Meituan (HKG:3690) agreed to issue 8 billion yuan in senior notes to refinance existing offshore debt and fund general corporate purposes, according to a Wednesday Hong Kong bourse filing.
The offering comprises 4.5 billion yuan of notes carrying an annual interest rate of 2.50% due in 2031, and 3.5 billion yuan of notes bearing 3.10% interest due in 2036.
Both tranches will be issued at 100% of their principal amount, with interest payable semi-annually.
Meituan expects to use the net proceeds primarily to refinance existing offshore indebtedness and for other general corporate purposes.
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