Tencent Music - SW (01698) announced a $1 billion note sale plan with a net raise of about US$992 million

Zhitongcaijing · 1d ago

Zhitong Finance App News, Tencent Music - SW (01698) issued an announcement. On September 3, 2026 (US Eastern Time), the company announced the public sale of priority unsecured notes with a total principal amount of 1 billion US dollars. The public sale includes notes with an interest rate of 5.050% and US$500 million due in 2031, and US$500 million notes with an interest rate of 5.650% and due in 2036. These notes are registered under the US Securities Act of 1933 (as amended) and are expected to be listed on the Hong Kong Stock Exchange Limited. The Company expects to complete the bill sale on or around September 10, 2026 (EST), subject to customary delivery conditions.

After deducting underwriting discounts and commissions and estimated sale expenses, the company expects to receive approximately US$992 million in net proceeds from the sale. The company intends to use the net proceeds from the sale for general corporate purposes, including refinancing of overseas debts and share repurchases.