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FINWIRES

Tencent Music Prices $1 Billion Bond Offering

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Tencent Music Entertainment (HKG:1698) has priced a $1 billion offering of US dollar-denominated senior unsecured notes, according to a Friday filing to the Hong Kong stock exchange.

The public offering consists of two tranches: $500 million of 5.050% notes due in 2031 and $500 million of 5.650% notes due in 2036. The offering is expected to close on or about Sept. 10.

The bonds 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.

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