04:00 AM EDT, 06/05/2024 (MT Newswires) -- Trip.com Group ( TCOM ) said late Tuesday it has priced $1.3 billion worth of 0.75% convertible senior notes due 2029.

The company said it has granted the initial purchasers an option to purchase up to an additional $200 million worth of notes.

The initial conversion rate of the notes is 15.0462 American depositary shares per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $66.46 per ADS.

The company said it plans to use proceeds from the offering to pay down debt, expand its business, and for working capital needs.

The company also said it plans to repurchase approximately 6 million ADSs for around $300 million as part of its existing share repurchase programs.

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