Baidu $1 billion sustainability notes offering
The investment-grade offering included notes due 2027 and 2031
Davis Polk advised the underwriters on an SEC-registered offering by Baidu, Inc. of its $300 million 1.625% notes due 2027 and $700 million 2.375% notes due 2031. The notes are being issued as “Sustainability Bonds” under Baidu’s Sustainable Finance Framework.
Baidu, Inc. is a leading search engine, knowledge and information centered Internet platform and AI company. Baidu’s ADSs currently trade on the Nasdaq Global Select Market and its Class A ordinary shares are currently trade on the Main Board of the Hong Kong Stock Exchange.
The Davis Polk corporate team included partners James C. Lin and Gerhard Radtke and registered foreign lawyers Jennifer (Yujia) Jiang and Lyuning He. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.