Trip.com Group Ltd. (HK:9961) has released an update.
Trip.com Group Ltd. has successfully completed a US$1.5 billion offering of convertible senior notes set to mature in 2029, with plans to allocate the proceeds towards debt repayment, global expansion, and working capital. The notes feature a semiannual interest payment at a rate of 0.75% and offer an initial conversion rate of 15.0462 American depositary shares per US$1,000 principal amount, representing a significant premium over the current trading price. In tandem with the note offering, the company also repurchased 6 million shares to mitigate potential dilution from the conversion of the new notes.
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