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Baidu raises $1.5b in debut issue with bond sale
Baidu Inc, owner of China's most popular search engine, said the $1.5 billion raised in its debut bond issue will serve as a "war chest" for strategic uses including possible acquisitions. Raising US dollars inexpensively will allow the company to retire some existing debt and also provides flexibility to look at ways of expanding the business, Kaiser Kuo, a spokesman for Beijing-based Baidu, said on Wednesday. "Our operations outside of China, though very modest at present, are growing," he said.
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