Meituan to Raise $1.20 Billion Via Offshore Yuan Bond Sale
By P.R. Venkat
Chinese food-delivery and local-services provider Meituan plans to raise 8 billion yuan, equivalent to $1.20 billion, through a two-tranche bond offering.
The proceeds from the offshore yuan-denominated bonds will be used mainly to refinance existing offshore debt and for general corporate purposes, Meituan said Wednesday.
Meituan will issue 4.5 billion yuan of 2.50% senior notes due 2031 and 3.5 billion yuan of 3.10% senior notes due 2036, both priced at par.
The notes are expected to be rated Baa1 by Moody's and BBB+ by both S&P Global Ratings and Fitch, the company said. Meituan will seek a listing for the bonds on the Hong Kong stock exchange.
CLSA, Goldman Sachs and Industrial & Commercial Bank of China are among the banks acting as joint global coordinators on the deal.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
October 27, 2026 20:32 ET (00:32 GMT)
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