Meituan (the Company) has disclosed plans to launch an international offering of CNY-denominated senior notes exclusively to Professional Investors, subject to market conditions and demand. Key terms—including aggregate principal, coupon rate and maturity—will be finalised through a book-building process led by a consortium of international and Chinese banks acting as Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners.
According to the announcement, CLSA, Goldman Sachs (Asia), Merrill Lynch (Asia Pacific), China Construction Bank (Asia), ICBC (Asia), Bank of Communications Hong Kong Branch and HSBC will coordinate the transaction, alongside eight additional Joint Lead Managers. Once pricing is agreed, Meituan and the banks are expected to sign a Purchase Agreement.
Proceeds from the contemplated issuance are earmarked primarily for refinancing existing offshore indebtedness and for general corporate purposes, in line with applicable mainland China regulations. The notes will be offered outside the United States under Regulation S and will not be marketed to the Hong Kong public, retail investors in the European Economic Area or the United Kingdom.
Meituan intends to seek listing approval for the notes on The Stock Exchange of Hong Kong Limited, restricted to Professional Investors. The company underscores that no binding agreement has been executed to date; therefore, the transaction may or may not proceed, and shareholders are advised to exercise caution when dealing in Meituan securities.
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