Baidu’s $1 Billion Sustainability Notes Offering

Davis Polk advised the underwriters on the offering.

Baidu, Inc. execute its offering of $300 million 1.625% notes due 2027 and $700 million 2.375% notes due 2031. The notes are issued as “Sustainability Bonds” under Baidu’s Sustainable Finance Framework.

The Underwriters included Goldman Sachs (Asia) L.L.C., BofA Securities, Inc., J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, and BOCOM International Securities Limited.

Baidu, Inc. is a leading search engine, knowledge and information centered Internet platform and AI company. Baidu’s ADSs currently trade on the Nasdaq Global Select Market and its Class A ordinary shares are currently trade on the Main Board of the Hong Kong Stock Exchange.

The Davis Polk corporate team included partners James C. Lin (Picture) and Gerhard Radtke and registered foreign lawyers Jennifer (Yujia) Jiang and Lyuning He. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. 

Involved fees earner: Alon Gurfinkel – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Lyuning He – Davis Polk & Wardwell; Jennifer Jiang – Davis Polk & Wardwell; James Lin – Davis Polk & Wardwell; Gerhard Radtke – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Bank of America Securities; BOCOM International Securities Ltd; China International Capital Corporation Hong Kong Securities Limited; Goldman Sachs (Asia) L.L.C.; J.P. Morgan Securities LLC;

Author: Sonia Carcano