Baidu (HKG:9888) plans to undertake a debt offering to raise funds for general corporate purposes, according to a Hong Kong bourse filing Monday.
The company plans to offer yuan-denominated senior unsecured notes in a yet-to-be-announced sum.
Net proceeds from the offering will be used for general corporate purposes, including repayment of certain existing indebtedness, payment of interest, and for general corporate purposes.
Bloomberg reported last month that the Chinese search engine operator may raise between 4 billion yuan and 4.5 billion yuan through a potential dim sum bond issuance of offshore renminbi-denominated notes.
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