Trip.com Group Completes Repurchase Right Offer for Exchangeable Senior Notes

Strategic Insights -

Trip.com Group, a leading one-stop travel service provider, has announced the completion of its previously announced repurchase right offer relating to its 1.50% Exchangeable Senior Notes due 2027. The company's shares have been subject to volatility in recent months, but the repurchase right offer has now been successfully completed. With this development, the outstanding principal amount of the Exchangeable Notes has been set at US$500,000,000, continuing to be subject to the existing terms and indentures.

Key Takeaways:

  • The repurchase right offer for the Exchangeable Senior Notes due 2027 has been completed by Trip.com Group, with no Exchangeable Notes being validly surrendered and not withdrawn.
  • The outstanding principal amount of the Exchangeable Notes has been set at US$500,000,000, continuing to be subject to the existing terms and indentures, including the Indenture dated July 20, 2020, and the Supplemental Indenture dated December 15, 2020.
  • The repurchase right offer expired on June 27, 2025, with no exchangeable notes being validly surrendered and not withdrawn prior to the expiration, as stated by The Bank of New York Mellon as the paying agent for the Exchangeable Notes.
  • The completion of the repurchase right offer highlights Trip.com Group's commitment to managing its debt obligations and optimizing its capital structure.
  • The company's mission to pursue the perfect trip for a better world remains unchanged, as stated in its website.
  • Ctrip, Qunar, Trip.com, and Skyscanner operate under the Trip.com Group portfolio of brands, with a comprehensive suite of travel products and services.

Statistics:

  • US$500,000,000: The outstanding principal amount of the Exchangeable Notes.
  • 1.50%: The coupon rate for the Exchangeable Senior Notes due 2027.
  • July 20, 2020: The date of the Indenture relating to the Exchangeable Notes.
  • December 15, 2020: The date of the Supplemental Indenture relating to the Exchangeable Notes.
  • June 27, 2025: The expiration date of the repurchase right offer for the Exchangeable Notes.

Sources:

  • "Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961)."
  • "Materials filed with or furnished to the Securities and Exchange Commission (the 'SEC') will be available electronically without charge at the SEC's website, ."