Reported 2 days ago
Baidu Inc. successfully raised $2 billion by issuing bonds exchangeable into shares of Trip.com Group Ltd., marking a record offering for an Asian issuer in this format. The exchangeable bonds, due in 2032, will be utilized for debt repayment and corporate purposes, priced with a 43% premium over the Trip.com share price. This move follows Baidu's recent bond issuance outside mainland China and reflects the company’s ongoing challenges and responses in a competitive tech landscape.
Source: YAHOO