Baidu announces debt offerings: CNY notes, exchangeable bonds

** Baidu, Inc. (HKEX: 9888) has announced a series of debt offerings, signaling a move to bolster its financial flexibility. The company initially proposed offering CNY-denominated senior unsecured notes in offshore transactions, intending to use the proceeds for general corporate purposes, including debt repayment. These notes are to be offered outside the United States to non-U.S. persons, relying on Regulation S. Subsequently, Baidu priced its offering of CNY10 billion in aggregate principal amount of these CNY-denominated senior notes, consisting of CNY7.5 billion in 2.70% notes due 2030 and CNY2.5 billion in 3.00% notes due 2035, with an expected closing date of March 12, 2025.