Tencent-backed China Ruyi to tap bond market for US$500 million amid growth plans: sources

China Ruyi Holdings, a streaming media firm supported by Tencent Holdings, plans to raise between US$300 million and US$500 million in convertible bonds next week for a potential acquisition. The offering could be launched as early as Monday, with Bank of America, CLSA, Deutsche Bank, Goldman Sachs, and Macquarie working on the deal. Discussions around the acquisition are in early stages and may not be successful, according to sources familiar with the matter.

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