Tencent Music Entertainment Group has priced its public offering of US$1,000 million aggregate principal amount of senior unsecured notes, comprising US$500 million of 5.050% notes due 2031 and US$500 million of 5.650% notes due 2036. The company expects net proceeds of approximately US$991.9 million, which it plans to use for general corporate purposes, including refinancing offshore indebtedness and share repurchases. The notes are registered under the U.S. Securities Act and are expected to be listed on the Stock Exchange of Hong Kong. Joint bookrunners include J.P. Morgan Securities LLC, Goldman Sachs (Asia) L.L.C., and The Hongkong and Shanghai Banking Corporation Limited, with UBS AG Hong Kong Branch, Bank of China Limited, and MUFG Securities Asia Limited serving as joint lead managers.
Tencent Music Entertainment GroupTencent Music priced a $1B senior notes offering, raising ~$991.9M for refinancing and share repurchases.
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