BEIJING, March 5,
2025 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU
and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ("Baidu" or
the "Company"), a leading AI company with strong Internet
foundation, today announced the pricing of its offering of
CNY10 billion aggregate principal amount
of CNY-denominated senior unsecured notes (the "Notes"). The Notes
were offered in offshore transactions outside the United
States to certain non-U.S. persons (the "Notes Offering") in
reliance on Regulation S under the United States Securities Act of
1933, as amended (the "Securities
Act").
The Notes Offering consists of CNY7.5 billion of 2.70% notes due
2030 and CNY2.5
billion of 3.00% notes due 2035. The Company expects to
close the Notes Offering on or about March
12, 2025, subject to the satisfaction of customary closing
conditions.
The Company intends to use the net proceeds from the Notes
Offering for general corporate purposes, including repayment of
certain existing indebtedness, payment of interest and general
corporate purposes.
The Notes have not been and will not be registered under
the Securities Act or any state securities laws. They may not be
offered or sold in the United
States or to, or for the account or benefits of, U.S.
persons (as defined in Regulation S under the Securities Act)
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities
Act.
The Notes are expected to be listed on The
Stock Exchange of Hong Kong Limited (the "Hong Kong
Stock Exchange").
This announcement shall not constitute an offer to sell or
a solicitation of an offer to purchase any securities, in
the United States or elsewhere,
and shall not constitute an offer, solicitation or sale of the
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful. Any offering of securities
will be made by means of one or more offering documents, which will
contain detailed material information about the Company and
its operational and financial
performance.
This announcement contains information about the
pending Notes Offering, and there can be
no assurance that the Notes Offering will
be completed.
About Baidu
Founded in 2000, Baidu's mission is to make the
complicated world simpler through technology. Baidu is a leading AI
company with strong Internet foundation, trading on Nasdaq under
"BIDU" and HKEX under "9888". One Baidu ADS represents eight Class
A ordinary shares.
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. Baidu
may also make written or oral forward-looking statements in its
periodic reports to the SEC, in announcements made on the website
of the Hong Kong Stock Exchange, 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 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 the
Company'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 the Company's annual
report on Form 20-F and other documents filed with the SEC, and
announcements on the website of the Hong Kong Stock Exchange. Baidu
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law. All information
provided in this announcement is as of the date of the
announcement, and Baidu undertakes no duty to update such
information, except as required under applicable law.
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SOURCE Baidu, Inc.
