Baidu seeks $2b via exchangeable bonds for Trip.com shares

Baidu Inc. plans to raise up to US$2 billion through bonds that are exchangeable into shares of Trip.com Group Ltd.

The seven-year bonds will mature in 2032, as stated in the company’s announcement on Mar. 7.

The proceeds will be used for debt repayment, interest payments, and general corporate purposes. The bonds will have a 0% coupon, according to deal terms reviewed by Bloomberg News.

The offering is managed by JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group Inc., and Bank of America Corp.

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