Jun
02
China Search Engine Giant Baidu Said to Raise Loan to $2 Billion
By-
Gets commitments from 21 banks for the facility, people say
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Baidu said in April the loan is for general corporate purposes
Baidu Inc., owner of China’s biggest search engine, increased the size of a five-year loan to $2 billion from $1 billion, people familiar with the matter said.
The company, founded by billionaire Robin Li, has gotten commitments from 21 banks for the facility, according to the people, who asked not to be identified because they’re not authorized to speak publicly. Baidu aims to borrow the funds through a five-year syndicated facility for general corporate purposes, Tracy Hu, a media official at the firm,said in April…
China Search Engine Giant Baidu Said to Raise Loan to $2 Billion
