Trip.com Follows Alibaba Lead as Convertible Bond Boom Grows

(Bloomberg) — There is no let up in the rush by Chinese technology companies to issue convertible bonds, with online travel agency Trip.com now following industry giants such as Alibaba Group Holding Ltd. into the action.

Trip.com announced Tuesday an offering of $1.3 billion convertible senior notes due in 2029 to help repay debt, expand overseas and to provide working capital. To ease any dilution, the company plans to repurchase 6 million American depository shares for about $300 million at $50.16 each, the same as the latest close, according to a separate statement on the bond pricing Wednesday.