New Issue-Baidu sells $1.5 bln in 2 parts

Tue Nov 20, 2012 6:07pm EST

Nov 20 (Reuters) - Baidu Inc on Tuesday sold $1.5
billion of senior unsecured notes in two parts, said market
sources. 
    J.P. Morgan and Goldman Sachs were the joint bookrunning
managers for the sale.

BORROWER: BAIDU

TRANCHE 1
AMT $750 MLN    COUPON 2.25 PCT    MATURITY    11/28/2017   
TYPE SR NTS     ISS PRICE 99.929   FIRST PAY   05/28/2013 
MOODY'S A3      YIELD 2.265 PCT    SETTLEMENT  11/28/2012   
S&P SINGLE-A    SPREAD 160 BPS     PAY FREQ    SEMI-ANNUAL
FITCH N/A        MORE THAN TREAS   MAKE-WHOLE CALL 20 BPS
    
TRANCHE 2
AMT $750 MLN    COUPON 3.5 PCT     MATURITY    11/28/2022  
TYPE SR NTS     ISS PRICE 99.849   FIRST PAY   05/28/2013
MOODY'S A3      YIELD 3.518 PCT    SETTLEMENT  11/28/2012   
S&P SINGLE-A    SPREAD 185 BPS     PAY FREQ    SEMI-ANNUAL
FITCH N/A        MORE THAN TREAS   MAKE-WHOLE CALL 30 BPS
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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