(Bloomberg) -- There’s no let up in the rush by Chinese technology companies to issue convertible bonds, with online travel agency Trip.com now following...
-- There’s 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 a proposed offering of $1.3 billion convertible senior notes due in 2029 to help repay debt, expand overseas and for working capital needs.
“Expect some near-term share price volatility amid convertible bonds hedging activity and possible profit-taking by short-term investors,” Citigroup Inc. analysts including Brian Gong wrote in a note. Trip.com’s issue makes sense despite its strong cash position, given it is expanding to gain share in Asia, has short-term borrowings of $5.35 billion and needs investment, they said.Separately, Mergermarket reported Tuesday that Meituan is working with Bank of America Corp.
CWB Foundation Launches New Award to Help Relieve Financial Stress of Equipment Costs for Students Entering the Welding and Joining Industry A former Meta engineer on Tuesday accused the company of bias in its handling of content related to the war in Gaza, claiming in a lawsuit that Meta fired him for trying to help fix bugs causing the suppression of Palestinian Instagram posts. Ferras Hamad, a Palestinian-American engineer who had been on Meta's machine learning team since 2021, sued the social media giant in a California state court for discrimination, wrongful termination and other wrongdoing over his February dismissal.
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