Baidu raises $1b in ESG bond issue amid China tech sector woes

Baidu raises $1b in ESG bond issue amid China tech sector woes

FILE PHOTO: Members of staff work at the Baidu booth during Global Mobile Internet Conference (GMIC) at the National Convention in Beijing, China April 27, 2018. REUTERS/Damir Sagolj

Chinese internet giant Baidu Inc has raised $1 billion in a two-tranche, U.S. dollar sustainability bond, its first environment, social and governance (ESG) transaction.