BEIJING, March 22, 2018 /PRNewswire/ -- Baidu, Inc.
(NASDAQ: BIDU) ("Baidu" or the "Company"), the leading Chinese
language Internet search provider, today announced the pricing of
its public offering of US$1.5 billion aggregate principal amount of
its notes. The public offering consists of US$1 billion of
3.875% notes due 2023 and US$500 million of 4.375% notes due
2028. The notes have been registered under the U.S. Securities Act
of 1933, as amended, and are expected to be listed on the Singapore
Exchange Securities Trading Limited.
The Company expects to receive net proceeds from the offering of
approximately US$1.49 billion,
after deducting underwriting discounts and commissions and
estimated offering expenses. The Company intends to use the net
proceeds from the offering to repay existing indebtedness and for
general corporate purposes.
The joint bookrunners of the offering are Goldman Sachs
(Asia) L.L.C., J.P. Morgan
Securities LLC and Merrill Lynch, Pierce, Fenner & Smith.
The Company has an effective shelf registration statement on
Form F-3 (including a base prospectus) on file with the U.S.
Securities and Exchange Commission (the "SEC") and has filed a
related preliminary prospectus supplement with the SEC for the
offering of the notes. When available, the final prospectus
supplement for the offering of the notes will be filed with the
SEC. The offering is being made only by means of the prospectus
supplement and accompanying base prospectus. Before you invest, you
should read the prospectus supplement and accompanying base
prospectus and other documents that the Company has filed with the
SEC for more complete information about the Company and the
offering. You may obtain these documents free of charge by visiting
EDGAR on the SEC website at www.sec.gov. Alternatively, the
Company or any underwriter or dealer participating in the offering
will arrange to send an investor the prospectus supplement and
accompanying base prospectus if the investor makes such request by
calling Goldman, Sachs & Co. toll-free at 1-866-471-2526, J.P.
Morgan Securities LLC at 1-212-834-4533 and Merrill Lynch, Pierce,
Fenner & Smith Incorporated toll-free at 1-800-294-1322.
This announcement is not an offer of the securities for sale in
the United States of America and
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of, these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The securities
referred to herein have not been and will not be registered under
the applicable securities laws of any jurisdiction outside of
the United States of America.
About Baidu
Baidu, Inc. is the leading Chinese language Internet search
provider. Baidu aims to make a complex world simpler through
technology. Baidu's ADSs trade on the NASDAQ Global Select Market
under the symbol "BIDU." Currently, ten ADSs represent one
Class A ordinary share.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the description of the proposed offering in this
announcement contains forward-looking statements. Baidu may also
make written or oral forward-looking statements in its periodic
reports to the SEC, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Baidu's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Baidu's
proposed use of proceeds from the sale of debt securities; its
growth strategies, its future business development, including
development of new products and services; its ability to attract
and retain users and customers; competition in the Chinese Internet
search market; competition for online marketing customers; changes
in Baidu's revenues and certain cost or expense items as a
percentage of its revenues; the outcome of ongoing, or any future,
litigation or arbitration, including those relating to intellectual
property rights; the expected growth of the Chinese language
Internet search market and the number of Internet and broadband
users in China; Chinese
governmental policies relating to the Internet and Internet search
providers and general economic conditions in China, Japan
and elsewhere. Further information regarding these and other risks
is included in Baidu's annual report on Form 20-F, Form F-3 and
other documents filed with the SEC. All information provided in
this press release is as of the date of the press release, and
Baidu undertakes no duty to update such information, except as
required under applicable law.
Contacts
Investors Relations, Baidu, Inc.
Tel: +86-10-5992-4958
Email: ir@baidu.com
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SOURCE Baidu, Inc.