Trip.com Group Limited Announces Proposed Offering of US$1.3 Billion Cash-par Settled Convertible Senior Notes

Core Viewpoint - Trip.com Group Limited announced a proposed offering of US$1.3 billion in convertible senior notes due 2029, aimed at qualified institutional buyers, with an option for initial purchasers to buy an additional US$200 million [1][10]. Group 1: Notes Offering Details - The notes will be general unsecured obligations of the company, maturing on June 15, 2029, with a repurchase option for holders on June 15, 2027, at 100% of the principal amount plus accrued interest [3][4]. - The notes will be convertible under certain conditions, with cash settlement upon conversion, and the company may choose to settle in cash, American depositary shares (ADSs), or a combination [5][6]. - The company plans to repurchase up to US$400 million of its ADSs concurrently with the notes offering to offset potential dilution from the conversion of the notes [7]. Group 2: Use of Proceeds - The net proceeds from the notes offering will be used for repaying existing financial indebtedness, expanding overseas business, and meeting working capital needs [2]. Group 3: Company Overview - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services, and operates under brands like Ctrip, Qunar, Trip.com, and Skyscanner [12].