Summary by Moomoo AI
JD.com, Inc. (NASDAQ: JD), a leading technology and service provider, has successfully completed its offering of convertible senior notes, raising US$2.0 billion. The offering, which included an additional US$250 million purchased by initial purchasers exercising their full option, concluded on May 23, 2024. The notes, due in 2029, will be used to repurchase American depositary shares (ADSs), expand overseas business, enhance the supply chain network, and for working capital needs. The senior notes will pay a semiannual interest of 0.25% and are unsecured obligations of JD.com. The initial conversion rate is set at 21.8830 ADSs per US$1,000 principal amount, equivalent to a conversion price of approximately US$45.70 per ADS. The securities involved in this transaction have not been registered under the U.S. Securities Act and are therefore limited to qualified institutional buyers and certain non-U.S. persons in offshore transactions. This strategic financial move aligns with JD.com's growth strategies and its commitment to expanding its market presence and improving infrastructure.