Tencent raises $8.3 billion with its biggest offshore syndicated loan

The deal comes amid a flurry of debt financings by tech giants, with Alibaba Group Holding Ltd. issuing $5 billion of bonds in early February

Tencent Holdings, the creator of the messaging platform WeChat, has raised $8.3 billion in the biggest offshore syndicated loan in Asia for a Chinese firm since 2016.
 
Twelve banks joined the Tencent financing deal, which initially had a $6 billion size, according to people familiar with the matter. The loan will be used for general corporate purposes, the people said, asking not to be identified as they aren’t authorized to speak publicly. Representatives for Tencent didn’t immediately respond to requests for comment. IFR Asia earlier reported on the deal closing.
 
Tencent is fast evolving beyond a social media