Baidu plans yuan-denominated senior notes offering

Baidu, Inc. today announced a proposed offering of yuan-denominated senior unsecured notes. The notes will be offered in offshore transactions to non-U.S. persons in reliance on Regulation S under the United States Securities Act of 1933. The principal amount, interest rates, maturity dates, and other terms will be determined at the time of pricing.

The company intends to use the net proceeds from the notes offering for general corporate purposes, including the repayment of existing indebtedness and payment of interest. This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities.

The announcement was made by order of the board, with Robin Yanhong Li as chairman and chief executive officer. Baidu will furnish a Form 6-K to the SEC in connection with the notes offering.