Tencent Plans $1B Raise Through First Dim Sum Bonds

Tencent, one of China’s biggest tech companies, is planning to raise $1 billion through its first-ever Dim Sum bond issue. This is not just another fund-raising event. It marks a new step for the company and for China’s efforts to expand the use of its currency outside the mainland. Dim Sum bonds are yuan-denominated bonds sold in Hong Kong, and they have become a tool for global investors who want exposure to China without the complexity of its onshore markets.