On October 29, Meituan announced the issuance of $600 million in 4.500% senior notes due 2031, $600 million in 4.750% senior notes due 2032, $800 million in 5.125% senior notes due 2035, RMB 2.08 billion in 2.55% senior notes due 2030, and RMB 5 billion in 3.10% senior notes due 2035. The total proceeds amount to approximately $1.9937 billion and RMB 7.08 billion, primarily intended for refinancing existing offshore debt and general corporate purposes.

S&P, Fitch, and Moody's assigned ratings of "A-", "BBB+", and "Baa1" respectively to Meituan's notes. These senior notes constitute unsecured obligations of the company. Interest on the USD-denominated notes is calculated on a 360-day year basis, divided into 12 months of 30 days each, while the RMB-denominated notes follow a 365-day year with actual days counted.

Key terms of the notes include restrictions on Meituan's ability to create additional secured interests, undergo substantial consolidation, mergers, or asset sales, as well as optional redemption rights allowing Meituan to repurchase the notes at specified prices before certain dates.

Meituan has applied to the Hong Kong Stock Exchange for the notes to be listed and traded under a professional investors-only bond issuance framework. The purchase agreement was executed on October 28, 2025 (New York time), between Meituan and the initial purchasers.

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