SINGAPORE, June 7, 2024
/PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961)
("Trip.com Group" or the "Company"), a leading one-stop travel
service provider of accommodation reservation, transportation
ticketing, packaged tours, and corporate travel management, today
announced the completion of its offering (the "Notes Offering") of
US$1.5 billion in aggregate principal
amount of convertible senior notes due 2029 (the "Notes"),
including the initial purchasers' full exercise of option to
purchase an additional US$200 million
in aggregate principal amount of the Notes. The Notes have been
offered to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act").
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.
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.
The initial conversion rate of the Notes is 15.0462 American
depositary shares ("ADSs"), each currently representing one
ordinary share of the Company, per US$1,000 principal amount of the Notes, which is
equivalent to an initial conversion price of approximately
US$66.46 per ADS.
The Notes, the ADSs deliverable upon conversion of the Notes, if
any, and the ordinary shares represented thereby or deliverable
upon conversion of the Notes in lieu thereof have not been
registered under the Securities Act, or any state securities laws.
They may not be offered or sold within the United States or to U.S. persons, except
to qualified institutional buyers in reliance on the exemption from
registration provided by Rule 144A under the Securities Act.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any of these securities, nor
shall there be a sale of the securities in any state or
jurisdiction in which such an offer, solicitation, or sale would be
unlawful.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "is/are likely to," "confident," or other
similar statements. Forward-looking statements involve inherent
risks and uncertainties. A number of important factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, severe or prolonged downturn in
the global or Chinese economy, general declines or disruptions in
the travel industry, volatility in the trading price of Trip.com
Group's ADSs or ordinary shares, Trip.com Group's reliance on its
relationships and contractual arrangements with travel suppliers
and strategic alliances, failure to compete against new and
existing competitors, failure to successfully manage current growth
and potential future growth, risks associated with any strategic
investments or acquisitions, seasonality in the travel industry in
the relevant jurisdictions where Trip.com Group operates, failure
to successfully develop Trip.com Group's existing or future
business lines, damage to or failure of Trip.com Group's
infrastructure and technology, loss of services of Trip.com Group's
key executives, adverse changes in economic and business conditions
in the relevant jurisdictions where Trip.com Group operates, any
regulatory developments in laws, regulations, rules, policies, or
guidelines applicable to Trip.com Group and other risks outlined in
Trip.com Group's filings with the U.S. Securities and Exchange
Commission or The Stock Exchange of Hong Kong Limited. All
information provided in this press release is as of the date of the
issuance, and Trip.com Group does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
About Trip.com Group Limited
Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading
global one-stop travel platform, integrating a comprehensive suite
of travel products and services and differentiated travel content.
It is the go-to destination for travelers in China, and increasingly for travelers around
the world, to explore travel, get inspired, make informed and
cost-effective travel bookings, enjoy hassle-free on-the-go
support, and share travel experience. Founded in 1999 and listed on
Nasdaq in 2003 and HKEX in 2021, the Company currently operates
under a portfolio of brands, including Ctrip, Qunar, Trip.com, and
Skyscanner, with the mission "to pursue the perfect trip for a
better world."
For further information, please contact:
Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 × 12229
Email: iremail@trip.com
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SOURCE Trip.com Group Limited
