Meituan Seeks to Raise $3 Billion in Dual-Currency Bond Sale (1)

Meituan plans to raise around $3 billion in what would be its largest regular bond issuance ever, as the company faces intensifying competition in China’s food delivery market.

Meituan, which operates online platforms for food delivery and other consumer products, is aiming to sell about $2 billion of dollar notes and the equivalent of $1 billion of offshore yuan notes in a deal that could come to the market as early as Tuesday, according to people familiar with the matter. Details could change based on investor feedback, the people added.

Meituan’s planned offering comes as China’s food delivery and retail ...