Tencent Music Entertainment Group Announces $1 Billion Notes Offering
Tencent Music Entertainment Group (NYSE: TME) announced a public offering of US$1 billion in senior unsecured notes, split into two tranches. The first tranche consists of US$500 million with an interest rate of 5.050% due in 2031 and the second of US$500 million at 5.650%, maturing in 2036. After underwriting discounts, the company expects to receive approximately $991.9 million in net proceeds. The funds will be used for general corporate purposes such as refinancing offshore debt and repurchasing shares. The offering is registered with the U.S. Securities Act of 1933 and expected to list on Hong Kong's Stock Exchange. J.P. Morgan, Goldman Sachs, and HSBC are among the joint bookrunners. Tencent Music operates several popular music apps in China including QQ Music, Kugou Music, Kuwo Music, WeSing, and Ximalaya.
Tickers: $TME
Topics: bond issuance corporate finance