Tencent has raised 9 billion yuan (US$1.3 billion) through a three-tranche offshore yuan bond deal.

The 5-year tranche raised 2 billion yuan at 2.1%, the 10-year tranche 6 billion yuan at 2.5%, and the 30-year tranche 1 billion yuan at 3.1%.

Final pricing was about 50 basis points lower than initial guidance.

The company had aimed to raise around US$1 billion.

Tencent has recently reduced its capital spending, dropping from 36.6 billion yuan (US$5.1 billion)  in Q4 2024 to 19.1 billion yuan (US$2.7 billion) in Q2 2025.

The firm said in August it plans to take a more cautious approach to spending, especially around its AI projects.

🔗 Source: Reuters

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