MEITUAN-W (03690.HK): Proposes RMB Senior Notes to Refinance Offshore Debt

NewTimeSpace News: On 26 October 2026, Meituan (stock codes: 3690 and 83690) announced a proposed international offering of RMB-denominated senior notes to professional investors only. Completion of the proposed note offering depends on market conditions and investor interest; as at the date of the announcement, the aggregate principal amount, interest rate, payment dates and certain other terms of the notes had not been determined.

Pricing will be determined through a bookbuilding process, with CLSA, Goldman Sachs (Asia), Merrill Lynch (Asia Pacific), China Construction Bank (Asia), Industrial and Commercial Bank of China (Asia), Bank of Communications Hong Kong Branch and The Hongkong and Shanghai Banking Corporation acting as joint global coordinators, joint lead managers and joint bookrunners; Bank of China (Hong Kong), China CITIC Bank International, Guotai Junan Securities (Hong Kong), Huatai Financial Holdings (Hong Kong), Industrial Bank Hong Kong Branch, Morgan Stanley & Co. International, Shanghai Pudong Development Bank Hong Kong Branch and UBS AG Hong Kong Branch acting as joint lead managers and joint bookrunners. Purchase agreements are expected to be entered into once the terms are finalised.

The Company intends to use the net proceeds mainly to refinance existing offshore debt and for other general corporate purposes. The notes have not been and will not be registered under the US Securities Act and will be offered only outside the United States to non-US persons under Regulation S; they will not be offered to the public in Hong Kong. The Company will apply to the Stock Exchange for listing of, and permission to deal in, the notes by way of debt issue to professional investors only. No binding agreement has been entered into and the offering may not proceed.