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Bonds

Tencent opens $4bn bond sale amid China debt market turmoil

Issue comes as internet platforms pressured over anti-competitive practices

Tencent Holdings and 33 other internet companies were told Tuesday to rectify their behavior in light of the $2.8 billion fine given to  Alibaba.   © Reuters

HONG KONG -- Tencent Holdings is seeking up to $4 billion from bond investors even as default worries centered on a Chinese state company have shaken Asia's credit markets.

Chinese technology conglomerate Tencent, known for its WeChat messaging platform and mobile games, has set price guidance for the bond offering and may finalize terms as early as Thursday, according to a deal term sheet seen by Nikkei Asia.

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