Davis Polk & Wardwell has advised Tencent Holding Ltd. on a $2.5 billion bond issue on the Hong Kong Stock Exchange.
The Shenzhen-based Internet company sold the bonds in one $500 million tranche of three-year notes and one $2 billion tranche of five-year notes. The offering is part of a $5 billion medium-term notes program launched last month. According to a regulatory filing, Tencent will use the proceeds for general corporate purposes.
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