Baidu prices offshore debt offering of 4.4 bn yuan senior notes

Baidu, Inc. today announced the pricing of its offering of 4.4 billion yuan aggregate principal amount of 1.90% senior unsecured notes due 2029. The notes were offered in offshore transactions to certain non-U.S. persons under Regulation S of the United States Securities Act of 1933. The company expects to close the offering on or about September 15, 2025, subject to customary closing conditions.

The net proceeds from the offering are intended for general corporate purposes, including the repayment of existing indebtedness and payment of interest. These notes have not been and will not be registered under the Securities Act or any state securities laws, and thus cannot be offered or sold in the United States or to, or for the account or benefits of, U.S. persons except under an exemption.

The notes are expected to be listed on The Stock Exchange of Hong Kong Limited. Baidu operates under a weighted voting rights structure, with Class A ordinary shares carrying one vote and Class B ordinary shares carrying ten votes. Its American depositary shares, each representing eight Class A ordinary shares, are listed on Nasdaq.