Kuaishou Technology tapped offshore markets for the first time, selling bonds to bolster artificial intelligence funding and extend last year’s surge in debt issuance by major companies in the sector.
The Chinese firm priced a $1.5 billion offering of dollar-denominated notes in two parts, according to a person familiar with the matter. The longer-dated 10-year tranche pays a premium of 0.7 percentage point above comparable Treasuries, versus initial price talk of around a full percentage point, said the person, who asked not to be identified as they’re not authorized to speak publicly.
Kuaishou, a key rival to ByteDance Ltd.’s ...
