04:03 AM EST, 03/07/2025 (MT Newswires) -- Baidu ( BIDU ) on Friday proposed to offer up to $2 billion in exchangeable bonds due 2032 outside the US.

The bonds will reference ordinary shares of Trip.com ( TCOM ) that are listed on the Hong Kong stock exchange. The bonds are not exchangeable for Trip.com's ( TCOM ) American depository shares, Baidu ( BIDU ) said.

Baidu ( BIDU ) aims to use the proceeds from the offering for the repayment of certain existing indebtedness, payment of interest and general corporate purposes.