The Firm recently represented the initial purchasers, led by Goldman Sachs (Asia) L.L.C., Deutsche Bank AG, Singapore Branch and Barclays Bank PLC, in the offer and sale of $600 million of 3.375% Senior Notes due 2018 of Tencent Holdings Limited, a Cayman Islands company, pursuant to Rule 144A and Regulation S. The notes were rated BBB+ by S&P and Baa1 by Moody’s.
Tencent is a leading integrated Internet services company in the People’s Republic of China, offering internet value-added services, mobile and telecommunications value-added services, online advertising, e-Commerce transactions and other services including trademark licensing, software development services and software sales. Tencent intends to use the proceeds of the offering of the notes for general corporate purposes.
The Simpson Thacher team for this transaction included Leiming Chen, Daniel Fertig, Xiaohui Lin, Tianyi Chen and Tina Yu (Capital Markets); Robert Holo and Adam Wells (Tax); and Jennie Getsin (Blue Sky).
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