Trip.com Group Announces Pricing Of Offering Of $1.3 Bln Of Convertible Senior Notes Due 2029

(RTTNews) - Trip.com Group Limited (TCOM) announced the pricing of its offering of US$1.3 billion in aggregate principal amount of convertible senior notes due 2029.

The company has granted the initial purchasers in the Notes Offering an option to purchase up to an additional US$200 million principal amount of the Notes, exercizable for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued.

The company plans to use the net proceeds from the Notes Offering for repayment of existing financial indebtedness, expansion of its overseas business, and working capital needs.

According to the company, the Notes will be general unsecured obligations of the Company and bear interest at a rate of 0.75% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The Notes will mature on June 15, 2029 unless repurchased, redeemed, or converted in accordance with their terms prior to such date.

Holders of the Notes may require the company to repurchase all or part of their Notes for cash on June 15, 2027 or in the event of certain fundamental changes, in each case, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.