Tencent Holdings has begun to promote the issuance of US dollar and offshore RMB bonds. The offering is expected to raise around $5 billion to support its increasing investment in artificial intelligence. According to media quoting a source familiar with the matter, the Chinese tech and gaming giant has set the initial pricing guidance ranges for the 10-year and 20-year dollar bonds it plans to issue at about 115 and 140 basis points higher than similar US Treasury bonds, respectively. The source said that the company is also promoting 10-year and 30-year offshore RMB bonds, and the pricing guidance ranges are around 2.9% and 3.5%, respectively. The source said the bonds could be priced as early as Tuesday.

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