Trip.com Group (TCOM) has announced a proposed offering of $1.3 billion in convertible senior notes, scheduled to mature on June 15, 2029, unless repurchased, redeemed, or converted beforehand. The offering will be available exclusively to individuals deemed to be qualified institutional buyers. The company intends to allocate the net proceeds toward repaying existing financial obligations, expanding its international operations, and addressing working capital requirements.
Simultaneously with the pricing of the Notes Offering, Trip.com Group plans to repurchase its American Depositary Shares (ADSs) for up to $400 million. This buyback will occur through off-market, privately negotiated transactions executed via one or more of the initial purchasers or their affiliates, acting as the company's agents, in line with existing share repurchase plans.
