KUAISHOU-W (01024) plans to issue $600 million USD notes due in 2031, $900 million USD notes due in 2036, and 3.5 billion RMB notes.

KUAISHOU-W (01024) announced that the company will issue $600 million in 2031 US Dollar Notes (maturing on January 22, 2031), $900 million in 2036 US Dollar Notes (maturing on January 22, 2036), and RMB 3.5 billion in RMB Notes (maturing on or around January 22, 2031), unless redeemed early according to the terms of the Notes. The issue price of the 2031 US Dollar Notes, 2036 US Dollar Notes, and RMB Notes shall be equal to 99.402%, 99.153%, and 100.00% of the respective principal amounts of the Notes. The 2031 US Dollar Notes will bear interest at an annual rate of 4.125%. Interest on the 2031 US Dollar Notes will accrue from January 22, 2026, with payments due every six months starting from July 22, 2026 (on January 22 and July 22 of each year). The 2036 US Dollar Notes will bear interest at an annual rate of 4.750%. Interest on the 2036 US Dollar Notes will accrue from January 22, 2026, with payments due every six months starting from July 22, 2026 (on January 22 and July 22 of each year). If any payment date falls on a non-business day, it will be deferred to the next business day. Interest will be calculated on a 360-day year basis, divided into 12 months of 30 days each. The RMB Notes will bear interest at an annual rate of 2.450%. Interest on the RMB Notes will accrue from January 22, 2026, with payments due every six months starting from July 22, 2026 (on January 22 and July 22 of each year). If any payment date falls on a non-business day, it will be deferred to the next business day, unless it falls on the following month, in which case it will be brought forward to the preceding business day. Interest will be calculated on a 365-day year basis using the actual number of days. After deducting underwriting commissions and certain estimated issuance expenses, the net proceeds from the issuance of the US Dollar Notes will be approximately $1.489 billion. The net proceeds from the issuance of the RMB Notes, after deducting underwriting commissions and certain estimated issuance expenses, will be approximately RMB 3.5 billion. The company intends to use the net proceeds from the issuance of the Notes for general corporate purposes.