BEIJING, April 1, 2020 /PRNewswire/ -- Baidu, Inc.
(Nasdaq: BIDU) ("Baidu" or the "Company"), a leading search engine,
knowledge and information centered Internet platform, and AI
company, today announced the pricing of its public offering of
US$1.0 billion aggregate principal
amount of its notes. The public offering consists of US$600 million of 3.075% notes due 2025 and
US$400 million of 3.425% notes due
2030. 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$0.99 billion, after
deducting underwriting discounts and commissions and estimated
offering expenses. The Company intends to use the net proceeds from
the offering to repay certain existing indebtedness and for general
corporate purposes.
The joint bookrunners of the offering are Goldman Sachs
(Asia) L.L.C. and BofA Securities,
Inc.
The Company has an effective shelf registration statement on
Form F-3 (including a base prospectus) on file with the United
States 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 and
BofA Securities, Inc. 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 a leading search engine, knowledge and
information centered Internet platform, and AI company. The
Company's mission is to make the complicated 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 but not limited
to 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 and newsfeed 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 and newsfeed 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 and elsewhere.
Further information regarding these and other risks is included in
Baidu's annual report on Form 20-F, registration statement on Form
F-3, and other documents filed with the SEC. Baidu does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law. 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: +86-10-5992-8888
Email: ir@baidu.com
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SOURCE Baidu, Inc.