Meituan launches 8 billion yuan dual-tranche bond to refinance offshore debt
Meituan is selling an 8 billion yuan two-tranche bond at 2.50% and 3.10%, using proceeds to refinance offshore debt, Reuters reports.
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what happened
Meituan, the Chinese food delivery platform, told investors on Wednesday that it is offering 8 billion yuan (about $1.20 billion) of bonds in two parts. The five-year piece totals 4.5 billion yuan and carries a 2.50% coupon, while the 10-year piece of 3.5 billion yuan pays 3.10%.
According to the company's statement, the money will go toward refinancing offshore borrowings and general corporate needs. Moody's is expected to rate the notes Baa1, while S&P Global Ratings and Fitch are expected to assign BBB+. The five-year notes mature on November 3, 2031, and the 10-year notes on November 3, 2036. Reuters had reported on Monday that the target was about 7 billion yuan.
why it matters
For bond investors this is a sizeable but routine deal from a large private issuer. The coupons offer a reference point for similar onshore issues from high-grade Chinese corporates. Reuters reports the final size came in above the earlier 7 billion yuan target.
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- Meituan aims to raise $1.2 billion in dual tranche bond to refinance debt — Reuters, 28 October 2026 at 00:26 UTC
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