By Cady Vishniac
Detroit, Oct. 22 – Meituan priced $2 billion of senior notes in two tranches, according to a market announcement.
The company will sell $750 million of 2 1/8% notes due 2025 and $1.25 billion of 3.05% notes due 2030. The 2025 notes priced at 99.877 and the 2030 notes at 99.863.
Both tranches have make-whole calls with par calls one month before the maturity date for the 2025 notes and three months prior to the maturity date for the 2030 notes.
Goldman Sachs (Asia) LLC and Merrill Lynch (Asia Pacific) Ltd. are the joint global coordinators, joint lead managers and joint bookrunners.
UBS AG Hong Kong Branch, HSBC Ltd., ICBC International Securities Ltd., BOCI Asia Ltd. and CCB International Capital Ltd. are joint lead managers and joint bookrunners.
Proceeds from the Rule 144A and Regulation S issue will be used for general corporate purposes and refinancing.
The company, formerly known as Meituan Dianping, with headquarters in Beijing, focuses on food delivery and also has travel and transportation segments.
| Issuer: | Meituan
|
| Description: | Senior notes
|
| Amount: | $2 billion
|
| Bookrunners: | Goldman Sachs (Asia) LLC, Merrill Lynch (Asia Pacific) Ltd., UBS AG Hong Kong Branch, HSBC Ltd., ICBC International Securities Ltd., BOCI Asia Ltd. and CCB International Capital Ltd.
|
| Pricing date: | Oct. 21
|
| Pricing date: | Oct. 28
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | Oct. 28, 2025
|
| Coupon: | 2 1/8%
|
| Price: | 99.877
|
| Call: | Make-whole call until Sept. 28, 2025
|
|
|
| 10-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Oct. 28, 2030
|
| Coupon: | 3.05%
|
| Price: | 99.863
|
| Call: | Make-whole call until July 28, 2030
|
|
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