<p>Chinese social media and gaming giant Tencent Holdings is testing the market's appetite for a US dollar bond deal it plans to offer, according to a term sheet reviewed by Reuters.</p>.<p>The company said in a statement on Monday it planned to conduct an international offering of notes under a programme to certain professional investors and would use the proceeds raised for general corporate purposes.</p>.<p>The previously announced programme had a maximum limit of $20 billion, of which $12 billion of notes were already outstanding, the company said in a separate statement.</p>.<p>The limit means future deals for Tencent would have to be under $8 billion.</p>.<p>Tencent hired Bank of America, HSBC, Morgan Stanley and Goldman Sachs as join global co-ordinators and the banks would lead a series of calls with fixed income investors on Tuesday, according to the term sheet.</p>.<p>Tencent and its advisers briefed Asian investors early on Tuesday and were due to speak with potential U.S. and European buyers at 11 p.m. Hong Kong time (1500 GMT), a source with direct knowledge of the matter said.</p>.<p>The timing and size of a potential bond deal would be finalised after the company and its advisers assess the level of demand from investors, the source said.</p>.<p>The source could not be named as the information had not been made public.</p>
<p>Chinese social media and gaming giant Tencent Holdings is testing the market's appetite for a US dollar bond deal it plans to offer, according to a term sheet reviewed by Reuters.</p>.<p>The company said in a statement on Monday it planned to conduct an international offering of notes under a programme to certain professional investors and would use the proceeds raised for general corporate purposes.</p>.<p>The previously announced programme had a maximum limit of $20 billion, of which $12 billion of notes were already outstanding, the company said in a separate statement.</p>.<p>The limit means future deals for Tencent would have to be under $8 billion.</p>.<p>Tencent hired Bank of America, HSBC, Morgan Stanley and Goldman Sachs as join global co-ordinators and the banks would lead a series of calls with fixed income investors on Tuesday, according to the term sheet.</p>.<p>Tencent and its advisers briefed Asian investors early on Tuesday and were due to speak with potential U.S. and European buyers at 11 p.m. Hong Kong time (1500 GMT), a source with direct knowledge of the matter said.</p>.<p>The timing and size of a potential bond deal would be finalised after the company and its advisers assess the level of demand from investors, the source said.</p>.<p>The source could not be named as the information had not been made public.</p>