Monday 26 Oct 2026
main news image

HONG KONG (Oct 26): Chinese food delivery giant Meituan has mandated seven banks to arrange investor meetings for a planned dual-tranche offshore yuan bond sale, according to a term sheet and preliminary offering memorandum seen by Reuters on Monday.

The company may issue five and 10-year senior unsecured notes, subject to market conditions.

CITIC, Goldman Sachs, BofA Securities, China Construction Bank, ICBC, Bank of Communications and HSBC are joint global coordinators.

Meituan plans to use proceeds mainly to refinance existing offshore debt and for general corporate purposes.

Deal size and pricing were not disclosed.

The bonds are expected to be rated Baa1 by Moody's and BBB+ by S&P Global Ratings and Fitch.

In August, Meituan said it swung to profit with an adjusted net profit of 2.16 billion yuan (US$323.83 million) after a first-quarter loss of 4.97 billion.

Uploaded by Liza Shireen Koshy

      Print
      Text Size
      Share