Trip.com Group Announces Entry into Facility Agreement

Rhea-AI Summary

On October 18, 2021, Trip.com Group Limited (Nasdaq: TCOM) announced a $1.5 billion transferable term loan facility agreement with several financial institutions. The facility has a 3-year tenor and aims to repay an existing $1.5 billion term loan from July 2019. Trip.com Group, a premier travel service provider, offers accommodations, transportation, packaged tours, and corporate travel management globally. This strategic move reflects the company's efforts to manage its financial obligations effectively.

Positive

• Secured a $1.5 billion term loan facility to manage existing debt.
• The loan facility has a reasonable 3-year tenor.

Negative

• None.

SHANGHAI, Oct. 18, 2021 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) ("Trip.com Group" or the "Company"), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced that it has entered into, as borrower, a facility agreement (the "Facility Agreement") dated October 18, 2021 with certain financial institutions specified therein, for an up to US$1.5 billion transferrable term loan facility (the "Facility").

The Facility has a 3-year tenor. The proceeds borrowed under the Facility may be used for the repayment of the outstanding balance of US$1.5 billion under the term loan facility the Company entered into in July 2019.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading one-stop travel platform globally, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel and get inspired, to make informed and cost-effective travel bookings, and to enjoy hassle-free, on-the-go support and share travel experience. Founded in 1999 and listed on Nasdaq in 2003, the Company operates under a portfolio of brands, including Ctrip, Qunar, Trip.com and Skyscanner.

For further information, please contact:

Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

View original content:https://www.prnewswire.com/news-releases/tripcom-group-announces-entry-into-facility-agreement-301402194.html

SOURCE Trip.com Group Limited

FAQ

What is the purpose of Trip.com Group's recent $1.5 billion loan facility?

The facility aims to repay the outstanding amount of $1.5 billion from a previous term loan entered into in July 2019.

When was the facility agreement for Trip.com Group announced?

The facility agreement was announced on October 18, 2021.

What are the financial terms of the loan facility announced by TCOM?

The loan facility is for up to $1.5 billion with a tenor of 3 years.

How will Trip.com Group use the proceeds from the loan facility?

The proceeds will be used to repay the outstanding balance of a prior term loan.