Tencent’s debt sale drew about US$15.5 billion in orders on October 13, showing strong investor demand for the Chinese tech company’s planned US dollar and offshore yuan bond offering despite wider market concerns about AI spending and borrowing costs.

A source said Tencent was seeking to raise at least US$4.5 billion.

Term sheets showed demand for the company’s US dollar notes alone exceeded US$4 billion.

The deal term sheet said Tencent plans to use the proceeds for general corporate purposes.

Offering documents showed its capital spending in the first half of 2026 rose to 96.3 billion yuan (US$14.4 billion) from 45.9 billion yuan (US$6.86 billion) a year earlier.

That spending covered computing equipment, software, and data centers.

🔗 Source: Reuters

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