Baidu announces proposed offering of exchangeable bonds

Beijing , march 7, 2025 /prnewswire/ -- baidu, inc. (nasdaq: bidu and hkex: 9888 (hkd counter) and 89888 (rmb counter)), ("baidu" or the "company"), a leading ai company with strong internet foundation, today announced that it proposes to offer up to us$2 billion in aggregate principal amount of exchangeable bonds due 2032 (the "bonds") in offshore transactions outside the united states to non-u.s. persons in reliance on regulation s under the securities act of 1933, as amended (the "securities act"), subject to market conditions and other factors (the "bonds offering"). the bonds will reference ordinary shares of trip.com group limited that are listed on the stock exchange of hong kong limited (the "hong kong stock exchange") (hkex: 9961) ("trip.com shares").
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