Bond Factsheet
TENCNT 6.100% 21Oct2036 Corp (USD)
Tencent Holdings Limited
Indicative
Full Lot
Bid Price 100.162
Change in Bid Price 0.303
Bid Yield (%) 6.076 %
Change in Bid Yield 0.043
Ask Price 100.234
Change in Ask Price 0.375
Ask Yield (%) 6.066 %
Change in Ask Yield 0.053
Indicative price as of 14 Oct 2026, 4:03pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Tencent Holdings Limited
Guarantor
-
Announcement Date
13 Oct 2026
Issue Date
21 Oct 2026
Maturity Date
21 Oct 2036
Years to Maturity / Next Call
10.025 / 9.773
Modified Duration
7.203 @ 14 Oct 2026
Issue / Reoffer Price
99.859
Issue / Reoffer Yield
6.119
Coupon Type
Fixed
Annual Coupon Rate
6.100
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
US88032XBG88
CUSIP
88032XBG8
Bond Currency
USD
Total Issue Size
1,300,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Information Technology
Bond Sub Sector
Software
Issuer Credit Rating (S&P/ Fitch)
***/ A
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
HKEX
Issuer Call
3-month par call prior to maturity
Make Whole Call
In the case of an Optional Redemption Date (Call) prior to [TBD] (the date that is three months prior to the Maturity Date for the Notes), the greater of (x) 100 per cent. of the principal amount of the Notes to be redeemed and (y) the sum of (1) the present value of the principal amount of the Notes to be redeemed, assuming a scheduled repayment thereof on [TBD], plus (2) the present value of the remaining scheduled payments of interest to and including [TBD] (exclusive of interest accrued to the date of redemption), in each of cases (1) and (2), discounted to the Optional Redemption Date (Call) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months, and in the case of an incomplete month, the actual number of days elapsed) at the Treasury Yield plus [ TBD ] basis points, and in each of cases (x) and (y), plus accrued and unpaid interest, if any, to, but not including, the Optional Redemption Date (Call);
Make-whole call;
Change Control Put
If a Triggering Event occurs, unless the Issuer has exercised its right to redeem the Notes under Condition 10(b) (Redemption for tax reasons) or Condition 10(c) (Redemption at the option of the Issuer), it will be required to make an offer to repurchase all or, at the Noteholder’s option, any part, of each Noteholder’s Notes pursuant to the offer described below (the “Triggering Event Offer”) on the terms set forth in the Trust Deed and the Notes. In the Triggering Event Offer, the Issuer will be required to offer payment in cash equal to the Early Redemption Amount (Triggering Event) plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the date of purchase (the “Triggering Event Payment”).
“Triggering Event” means (i) any change in or amendment to the laws, regulations and rules of the PRC or the interpretation or application thereof (“Change in Law”) that results in (A) the Group (as in existence immediately subsequent to such Change in Law), as a whole, being legally prohibited from operating substantially all of the business operations conducted by the Group (as in existence immediately prior to such Change in Law) as of the last date of the period described in the consolidated financial statements of the Issuer for the most recent fiscal quarter and (B) the Issuer being unable to continue to derive substantially all of the economic benefits from the business operations conducted by the Group (as in existence immediately prior to such Change in Law) in the same manner as reflected in the consolidated financial statements of the Issuer for the most recent fiscal quarter; and (ii) the Issuer has not furnished to the Trustee, prior to the date that is twelve months after the date of the Change in Law, an Opinion of Counsel or an opinion from an Independent Financial Advisor stating either (A) the Issuer is able to continue to derive substantially all of the economic benefits from the business operations conducted by the Group (as in existence immediately prior to such Change in Law), taken as a whole, as reflected in the consolidated financial statements of the Issuer for the most recent fiscal quarter (including after giving effect to any corporate restructuring or reorganisation plan of the Issuer) or (B) such Change in Law would not materially adversely affect the Issuer’s ability to make principal, premium (if any) and interest payments on the Notes when due; and “Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant of nationally recognised standing that is acceptable to the Trustee;
Early Redemption Amount (Triggering Event) per Calculation Amount payable on redemption for triggering event and/or the method of calculating the same (if required or if different from that set out in the Conditions): 101 per cent. of Principal Amount
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