Tencent Music raises $1B via senior notes to refinance debt and buy back shares

Tencent Music Entertainment Group has completed a $1 billion public offering of senior unsecured notes, split evenly between 5.050% notes due 2031 and 5.650% notes due 2036. The company plans to use the net proceeds, approximately $991.9 million, for general corporate purposes including refinancing offshore debt and share repurchases. The notes will be listed on the Hong Kong Stock Exchange starting September 11, 2026. This move supports Tencent Music's financial strategy to optimize its capital structure and enhance shareholder value.