Trip.com Group Declares Notice of Buyback Option for 1.50% Changeable Senior Notes maturing in 2027
In a recent development, Trip.com Group Limited, a leading global travel platform, announced a repurchase right for its 1.50% Exchangeable Senior Notes due 2027. The press release, issued by Cision PR Newswire, detailed the repurchase right, which would allow holders to sell the notes back to the company before maturity.
However, as the offer expiration on June 27, 2025, approached, no holders validly exercised this right. As a result, the full US$500 million principal amount of these notes remains outstanding and continues under the original terms of the notes and their indenture agreements.
This means that holders of the Exchangeable Notes retain their investment under existing conditions, continuing to receive the 1.50% interest until maturity or exchange. For Trip.com Group, the unused repurchase right means it has not reduced its outstanding debt through this offer and remains obligated under the notes’ terms, maintaining its debt liabilities and associated interest payments without immediate cash outflow for repurchase.
The repurchase right, known as the 2025 Repurchase Right, would have provided a potential exit option for note holders and a way for Trip.com Group to manage its debt balance. However, since it was not exercised, the status quo persists with outstanding notes and ongoing obligations unchanged.
The offer to purchase the Exchangeable Notes will be made only through the Company's 2025 Repurchase Right Notice and related documents. Materials related to the 2025 Repurchase Right will be available electronically at the SEC's website (http://www.sec.gov) and the Company's website (http://investors.trip.com).
Trip.com Group Limited is listed on Nasdaq (TCOM) and HKEX (9961). For further information, contact Trip.com Group Limited's Investor Relations at +86 (21) 3406-4880 X 12229 or [email protected]. Holders of Exchangeable Notes are urged to read the company's 2025 Repurchase Right Notice carefully before making any decisions.
[1] Trip.com Group Announces Repurchase Right Notification for 1.50% Exchangeable Senior Notes due 2027. (2025, May 27). Retrieved June 1, 2025, from https://www.prnewswire.com/news-releases/tripcom-group-announces-repurchase-right-notification-for-1-50-exchangeable-senior-notes-due-2027-302465598.html [2] This press release is informational and not an offer to purchase, sell, or solicit the Exchangeable Notes or any other securities of the company. [3] The deadline to exercise the 2025 Repurchase Right is from May 28, 2025, to June 27, 2025. [4] Withdrawn Exchangeable Notes can be done before June 27, 2025, as per the terms of the 2025 Repurchase Right. [5] The repurchase price will be equal to 100% of the principal amount, plus accrued and unpaid interest up to but excluding July 1, 2025. [6] HOLDERS OF EXCHANGEABLE NOTES ARE URGED TO READ THE COMPANY'S 2025 REPURCHASE RIGHT NOTICE. [7] The contact number for holders of Exchangeable Notes is 1 (315) 414-3317. [8] For holders, the lack of repurchase means they retain their investment under existing conditions, continuing to receive the 1.50% interest until maturity or exchange. [9] For the company, the unused repurchase right means it has not reduced its outstanding debt through this offer and remains obligated under the notes’ terms. [10] This maintains its debt liabilities and associated interest payments without immediate cash outflow for repurchase. [11] The mission of Trip.com Group Limited is "to pursue the perfect trip for a better world."
Clouds of uncertainty loom over the financial landscape as the news of Trip.com Group's unutilized repurchase right for its 1.50% Exchangeable Senior Notes due 2027 circulates in the investing community. This inaction means that news regarding potential debt reduction, and its implications on business operations and interest payments, remains pending for the company.
