Meituan issues $2.50 billion senior notes for offshore debt refinancing

On September 25th, Meituan (03690.HK) announced that it will issue 4.500% senior notes due in 2028 of US $1.20 billion and 4.625% senior notes due in 2029 of US $1.30 billion. The company will apply to the Stock Exchange for approval of the listing and trading of the notes by way of issuing bonds to professional investors only. The company intends to use the net proceeds from the issuance of the notes primarily for refinancing of existing offshore debt and other general corporate purposes.