TENCENT MUSIC-SW (01698.HK): Proposes public offering of senior unsecured notes for debt refinancing and share buybacks

NewTimeSpace News: On 2 September 2026, Tencent Music Entertainment Group (stock code: 01698) announced that on 1 September 2026 (US Eastern Time), the Company announced its intention to publicly offer senior unsecured notes in one or more tranches, subject to market conditions and other factors. The notes are registered under the US Securities Act and are expected to be listed on the Hong Kong Stock Exchange.

The Company intends to use the net proceeds of the proposed offering for general corporate purposes, including refinancing of offshore indebtedness and share repurchases. The joint bookrunners of the proposed offering are J.P. Morgan Securities LLC, Goldman Sachs (Asia) L.L.C. and The Hongkong and Shanghai Banking Corporation Limited, and the joint lead managers are UBS AG Hong Kong Branch, Bank of China Limited and Mitsubishi UFJ Securities (Asia) Limited.

The Company has filed with the US Securities and Exchange Commission an automatic shelf registration statement on Form F-3 (including a base prospectus) and has filed the relevant preliminary prospectus supplement in connection with the notes offering, and has applied to the Hong Kong Stock Exchange for approval to list and trade the notes by way of debt issue to professional investors only, having received the Stock Exchange's confirmation of the eligibility of the notes for listing. The Company noted that no binding agreement has been entered into as of the date of this announcement, and the proposed offering may or may not proceed.

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