Shenzhen – September 16, 2026 -- Tencent Music Entertainment Group has closed a US$1,000 million senior unsecured notes offering, netting approximately US$991.9 million after underwriting discounts and expenses.
TME splits offering into two tranches maturing 2031 and 2036
The offering consists of US$500 million in 5.050% notes due 2031 and US$500 million in 5.650% notes due 2036. The notes are registered under the U.S. Securities Act of 1933 and are set to list on The Stock Exchange of Hong Kong Limited on September 11, 2026.
Proceeds earmarked for offshore debt refinancing and share repurchases
TME plans to direct the net proceeds toward general corporate purposes, including refinancing existing offshore indebtedness and funding share buybacks. The company, dual-listed as NYSE: TME and HKEX: 1698, operates China's QQ Music, Kugou Music, Kuwo Music, WeSing and Ximalaya platforms.
Global banks structure the transaction across three continents
J.P. Morgan Securities LLC, Goldman Sachs (Asia) L.L.C. and The Hongkong and Shanghai Banking Corporation Limited served as joint bookrunners. UBS AG Hong Kong Branch, Bank of China Limited and MUFG Securities Asia Limited acted as joint lead managers on the deal.
Offering proceeds under existing SEC shelf registration
TME executed the transaction under an automatic shelf registration statement on Form F-3 already on file with the U.S. Securities and Exchange Commission, filing a related prospectus supplement specific to this notes issuance.