Trip.com Announces Proposed Offering Of $1.3 Bln Cash-par Settled Convertible Senior Notes

(RTTNews) - Trip.com Group (TCOM) announced the proposed offering of $1.3 billion in aggregate principal amount of convertible senior notes due 2029 only to persons reasonably believed to be qualified institutional buyers. The Notes will mature on June 15, 2029 unless repurchased, redeemed, or converted prior to such date. The company plans to use the net proceeds for repayment of existing financial indebtedness, expansion of its overseas business, and working capital needs.

Concurrently with the pricing of the Notes Offering, the company plans to repurchase a number of its ADSs in an amount expected to be up to $400 million pursuant to existing share repurchase plans in off-market privately negotiated transactions effected through one or more of the initial purchasers or their affiliates as its agent.