04.06.2024 12:25:59 - dpa-AFX: Trip.com Announces Proposed Offering Of $1.3 Bln Cash-par Settled Convertible Senior Notes
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - 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.
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