Baidu’s Bond Sale Rides AI Wave With Sector-Beating Pricing

(Bloomberg) — Baidu Inc. timed it just right with its $1.4 billion debt sale.

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The search engine giant’s offering — coming ahead of a $600 million debt due in April – wrapped up Wednesday, as investors kept bidding up China’s artificial intelligence-linked stocks.

Tapping into this appetite, Baidu snagged coupon rates — 2.7% and 3% for its five- and 10-year yuan-denominated notes, respectively — that were both 10 basis points lower than what larger rival…