08:56 AM EDT, 03/12/2025 (MT Newswires) -- Baidu ( BIDU ) said Wednesday it has completed its offering of 10 billion Chinese renminbi ($1.38 billion) total principal amount of Chinese yuan-denominated senior unsecured notes.

The offering consists of 7.5 billion renminbi of 2.70% notes due 2030 and 2.5 billion renminbi of 3.00% notes due 2035, the company said, adding that it expects to use the net proceeds for general corporate purposes, including repayment of certain current debt and interest payment.

The artificial intelligence company said it sold the notes outside the US.

Baidu's ( BIDU ) stock was down 0.9% in recent Wednesday premarket activity.