March 29, 2018 – Baidu, Inc. successfully issued offshore notes worth US $1.5 billion including $1 billion of bonds with a 3.875% coupon rate maturing in 2023 and $500 million of bonds with a 4.375% coupon rate maturing in 2028.
Listed on NASDAQ as BIDU, the company is the largest search engine in Chinese and the largest Chinese internet website in the world. “Customer First” as its service model, driven by waves of innovative technology, dedicated to deliver “simple but reliable” internet search and related service and products, this internet search service giant provides comprehensive coverage of literally everything searchable in the Chinese internet, including key-word web search, query-based social media search, vertical search within specific industry and field as well web-portal channels and Instant Messaging (IM). According to the data from a trustworthy third party, Baidu PC and mobile business held a 73.5% market share in China and attracted 97.5% of Chinese web population and 600 million active users with an average daily search amount of 6 billion.
As the underwriter’s Chinese legal counsel, Jingtian & Gongcheng provided legal service for this issuance, making it the 6th time the law firm assisted Baidu’s issuance of international bonds.
