05:53 AM EDT, 05/21/2024 (MT Newswires) -- JD.com ( JD ) said Tuesday it is planning a $1.5 billion offering of convertible senior unsecured notes due 2029.

The company plans to grant a 30-day option to the initial purchasers to buy up to an additional $225 million of the notes.

The company said it will use net proceeds for a concurrent repurchase of shares, to expand its overseas business, to improve its supply chain network and for working capital needs.

The interest rate, initial conversion rate and other terms of the notes will be determined at the time of pricing, the company said.

Price: 34.67, Change: -0.08, Percent Change: -0.23