Meituan is seeking about US$1 billion from an offshore yuan bond sale, people familiar with the matter said, as more issuers tap the dim sum market.

Meituan, a China-based food delivery company, told investors it has approval to raise more offshore debt, but is reserving part of that quota for US dollar bond refinancing when market conditions are favourable.

The quota expires next September, the people said.

The proceeds will mainly refinance offshore yuan loans, according to the people. The fundraising comes as competition in China’s food delivery and retail market has eased after a regulatory crackdown.

Meituan has also slowed its overseas expansion.

Dim sum bond issuance has topped 1 trillion yuan (US$150 billion) in 2026. Tencent raised 26 billion yuan (US$3.9 billion) in such notes earlier this month.

Fitch affirmed Meituan’s long-term foreign-currency issuer default rating at BBB- and revised its outlook to negative on April 9, 2026.

🔗 Source: Bloomberg

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