On September 15, 2025, Tencent Holdings Limited made an announcement stating that it had designated JPMorgan Chase, BofA Securities, and Morgan Stanley as the arrangers for its upcoming bond issuance initiative. This move signifies Tencent's re-entry into the public bond market after a four-year hiatus. In the financial landscape, a "hiatus" here implies a period of inactivity in the public bond market, which is a common term in English financial reporting to describe such breaks. Tencent has submitted an application to the Hong Kong Stock Exchange for a global medium-term note program with a total value of US$30 billion. This program will be listed within the 12-month period starting from September 16, 2025, and is intended solely for professional investors. The term "professional investors" is a well-defined concept in financial regulations, referring to individuals or entities with sufficient financial knowledge and resources to engage in complex investment activities. The bond issuance program encompasses three types of offshore RMB-denominated notes with maturities of 5 years, 10 years, and 30 years. The initial guidance prices for these notes are set at 2.6%, 3%, and 3.6% respectively. Pricing for these bonds could take place as early as Tuesday. The reason behind Tencent's financing requirements for this issuance is, in part, due to recently matured debts. By undertaking this bond issuance, Tencent is joining the trend of borrowing, a practice that has become increasingly common among other tech companies as well.