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Tencent Music Entertainment Plans Bond Offering

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Tencent Music Entertainment Group (HKG:1698) is planning a public offering of bonds to refinance debts and fund share buybacks, according to a disclosure on Wednesday.

The senior unsecured notes will be issued in one or more tranches, subject to market conditions. The debt securities are expected to be listed on the Hong Kong bourse.

The online music platform intends to use the offering proceeds for general corporate purposes, including refinancing of offshore indebtedness and share repurchases.

J.P. Morgan Securities, Goldman Sachs (Asia), and HSBC are serving as joint bookrunners, while UBS, Bank of China, and MUFG Securities Asia are the joint lead managers.

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