BRIEF: Meituan issues $2.5 billion in senior notes

3690.HK MPNGY.US

Online-to-offline services provider Meituan (3690.HK) on Thursday announced its issue of two traches of senior notes worth a combined $2.5 billion. One tranche was worth $1.2 billion, with an annual interest rate of 4.5% due in 2028; the other is worth $1.3 billion, with an annual interest rate of 4.625%, due in 2029. Two notes were listed on the Hong Kong Stock Exchange on Thursday and only available to professional investors.

The company will receive net proceeds of $2.488 billion from the sale, and will mainly use the funds to refinance existing offshore debt and for other general corporate purposes.

By Lau Chi Hang

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