Baidu plans to issue $1.4 bln of offshore bonds

An employee comes out of the Baidu headquarters in Beijing. (Photo by Fan Jiashan/For China Daily)

Chinese tech heavyweight Baidu Inc plans to issue about 10 billion yuan ($1.4 billion) of bonds offshore, according to a report from Bloomberg.

The deal will consist of a 5-year note to yield 2.6 percent to 2.8 percent, and a 10-year security at 2.8 percent to 3.0 percent, the report said, adding the size has increased from earlier discussions of a total of at least 4 billion yuan.

Baidu was not available for comment.