China’s Google, Baidu, Raises $1.5B In Bond Sale To Pay Down Debt And Fund M&A

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http://techcrunch.com – Baidu, China’s search behemoth, has announced that it is raising $1.5 billion in a two-part bond sale to write down debt and build up its war chest: Baidu remains the country’s biggest search portal but has of late been feeling the heat of competition from domestic rival Qihoo 360, an antivirus software company that launched its own search engine in August. Kaiser Kuo, Baidu’s director of international communications, said that proceeds from the sale will be used for acquisitions both in China and abroad: “We want to be ready to invest opportunistically as good deals prese (IT news)