Tencent did not respond to requests for comment.Bankers are also pitching Huawei Investment and Holding, the world's third smartphone maker by shipments last year, which is said to be planning a deal next year. Alibaba has US$1bn of 1.625 per cent three-year bonds and US$300m of floating-rate notes that mature on November 28. It also sold US$2.25bn of 2.5 per cent 2019s, US$1.5bn of 3.125 per cent 2021s and US$2.25bn of 3.6 per cent 2024s.Tencent's 2.875 per cent February 2020s were last trading at 71bp over Treasuries, down from a spread of 120bp at the start of the year. The company is rated A+ by S&P and Fitch.Huawei, which briefly overtook Apple as the number two smartphone manufacturer earlier this year, unveiled a new product line last month. The Mate 10 series touts high-end cameras, screens and batteries but at prices 15 per cent-30 per cent below comparable handsets made by Apple and Samsung

Source: Economic Times November 17, 2017 08:03 UTC