Tencent plans $5 billion bond sale for refinancing, corporate purposes

China’s Tencent Holdings Ltd is returning to the market with a US dollar bond that could raise about $5 billion, two people with direct knowledge of the matter said.

The social media and gaming giant launched the sale on Wednesday of five-year, seven-year, 10-year and 30-year dollar bonds, showed a term sheet seen by Reuters.

The term sheet did not detail the amount Tencent is looking to raise.

The bond sale could be Asia’s largest so far this year, Refinitiv data showed, exceeding property developer China Evergrande Group’s $2.8 billion sale in January.

Tencent last tapped the bond market in January last year, raising $5 billion.