Meituan (3690 HK/83690 HK) has announced a proposed issuance of USD- and CNY-denominated senior notes to be offered exclusively to Professional Investors. The final principal amounts, interest rates, payment dates, and other terms are subject to market conditions and investor demand. Pricing for the USD notes will be determined through a book-building exercise led by Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, and CLSA Limited, while the CNY notes will be priced through a similar process coordinated by a group of financial institutions that includes CLSA Limited, Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, and other participating banks.

According to the announcement, both the USD Notes and CNY Notes will be offered to certain investors under relevant U.S. regulatory exemptions. The net proceeds from these offerings are intended mainly for refinancing existing offshore debt and for other general corporate purposes, subject to applicable mainland China laws and regulations. Investors are cautioned that the proposed issuances may or may not materialize, and official filings will be made if there are further developments.

Meituan intends to apply for a listing of these notes on The Stock Exchange of Hong Kong Limited. However, this application does not serve as an indication of the merits of either the company or the notes.