Bond Factsheet
MEITUA 4.750% 05Nov2032 Corp (USD)
Meituan
Indicative
Full Lot
Bid Price 93.434
Change in Bid Price 0.479
Bid Yield (%) 6.056 %
Change in Bid Yield 0.099
Ask Price 93.568
Change in Ask Price 0.482
Ask Yield (%) 6.028 %
Change in Ask Yield 0.100
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Meituan
Guarantor
-
Announcement Date
28 Oct 2025
Issue Date
05 Nov 2025
Maturity Date
05 Nov 2032
Years to Maturity / Next Call
6.096 / 5.929
Modified Duration
5.060 @ 02 Oct 2026
Issue / Reoffer Price
99.471
Issue / Reoffer Yield
4.840
Coupon Type
Fixed
Annual Coupon Rate
4.750
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
USG59669AH76
CUSIP
YJ6131421
Bond Currency
USD
Total Issue Size
600,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Consumer Discretionary
Bond Sub Sector
Diversified Consumer Services
Issuer Credit Rating (S&P/ Fitch)
***/ BBB+
Bond Credit Rating (S&P/ Fitch)
***/ BBB+
Shariah Compliant
No
Exchange Listed
HKEX
Issuer Call
2-month par call
Make Whole Call
• 100% of the principal amount of the Notes to be redeemed; and,
•the make-whole amount, which means the amount determined on the fifth Business Day before the redemption date equal to the sum of (i) the present value of the principal amount of the Notes to be redeemed, assuming a scheduled repayment thereof on the stated maturity date, plus (ii) the present value of the remaining scheduled payments of interest to and including the stated maturity date, in each case discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months and, in the case of an incomplete month, the actual number of days elapsed) at the Treasury Yield plus 20 basis points,
plus, in each case, accrued and unpaid interest on the Notes to be redeemed, if any, to, but not including, the redemption date; provided that the principal amount of a Note remaining outstanding after redemption in part shall be US$200,000 or an integral multiple of US$1,000 in excess thereof.
Change Control Put
If a Triggering Event occurs, unless the Issuer has exercised our right to redeem the Notes as described under the heading “Tax Redemption” or under the heading “Optional Redemption” above, the Issuer will be required to make an offer to repurchase all or, at the holder’s option, any part (equal to US$200,000 or multiples of US$1,000 in excess thereof), of each holder’s Notes pursuant to the offer described below (the “Triggering Event Offer”) on the terms set forth in the Indenture and the Notes. In the Triggering Event Offer, the Issuer will be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the date of purchase (the “Triggering Event Payment”).
“Triggering Event” means (A) any change in or amendment to the laws, regulations and rules of the PRC or the official interpretation or official application thereof (“Change in Law”) that results in (x) the Group (as in existence immediately subsequent to such Change in Law), as a whole, being legally prohibited from operating substantially all of the business operations conducted by the Group (as in existence immediately prior to such Change in Law) as of the last date of the period described in the Issuer’s consolidated financial statements for the most recent fiscal quarter and (y) the Issuer being unable to continue to derive substantially all of the economic benefits from the business operations conducted by the Group (as in existence immediately prior to such Change in Law) in the same manner as reflected in its consolidated financial statements for the most recent fiscal quarter and (B) the Issuer has not furnished to the Trustee, prior to the date that is twelve months after the date of the Change in Law, an opinion from an independent financial advisor or external legal counsel stating either (1) the Issuer is able to continue to derive substantially all of the economic benefits from the business operations conducted by the Group (as in existence immediately prior to such Change in Law), taken as a whole, as reflected in its consolidated financial statements for the most recent fiscal quarter (including after giving effect to any corporate restructuring or reorganization plan of the Issuer) or (2) such Change in Law would not materially adversely affect the Issuer’s ability to make principal, premium (if any) and interest payments on the Notes when due.
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