JD.com, Inc. Class A (HK:9618) has released an update.
JD.com, Inc. has upsized its offering to $1.75 billion in convertible senior notes due in 2029, with an option for initial purchasers to buy an additional $250 million. The proceeds will be used for share repurchases, overseas expansion, supply chain improvements, and general working capital needs. The notes, which are senior unsecured obligations, will bear an interest rate of 0.25% per annum, with a conversion premium of approximately 35.00% over the ADS reference price.
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