Meituan Plans Offshore Yuan Bond Issue Worth About $1.2 Billion
Meituan plans to raise 8 billion yuan through two offshore yuan note tranches, according to Dow Jones Newswires, largely to refinance offshore borrowings.
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what happened
The Chinese local-services company Meituan intends to borrow 8 billion yuan, about $1.20 billion, through a bond sale split into two parts, Dow Jones Newswires reports. Most of the money from these offshore yuan notes will go toward paying off current overseas debt and general business needs, according to the company's statement on Wednesday.
The first portion totals 4.5 billion yuan with a 2.50% coupon and matures in 2031; the second, 3.5 billion yuan, carries 3.10% and runs to 2036. Both will be priced at face value. Rating agencies are expected to grade the paper Baa1 from Moody's and BBB+ from S&P Global Ratings and Fitch. Meituan also wants the securities listed in Hong Kong. CLSA, Goldman Sachs and Industrial & Commercial Bank of China act as joint global coordinators.
why it matters
For investors, the deal offers a read on borrowing costs in offshore yuan for a large Chinese technology issuer. Coupons and credit ratings will be compared with peers, while the planned Hong Kong listing ties the offering to the city's bond market.
tags
instruments
sources
- Meituan to Raise $1.20 Billion Via Offshore Yuan Bond Sale — Dow Jones Newswires, 28 October 2026 at 00:17 UTC
- Meituan to Raise $1.20 Billion Via Offshore Yuan Bond Sale — Dow Jones Newswires, 28 October 2026 at 00:32 UTC
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