Summary by Moomoo AI
JD.com, Inc. (NASDAQ: JD), a leading technology and service provider, has announced a proposed offering of convertible senior notes totaling US$1.5 billion, set to mature in 2029. The offering, subject to market conditions, also includes an option for initial purchasers to buy an additional US$225 million in notes within a 30-day period. The proceeds are intended for various corporate purposes, including a concurrent share repurchase program, overseas business expansion, supply chain improvements, and working capital needs. The notes will be senior, unsecured obligations of JD.com, with the interest rate and conversion terms to be determined. JD.com also plans to repurchase shares concurrently with the notes pricing and may continue to buy back shares on the open market. These repurchases are expected to offset potential dilution from the conversion of the notes. The securities involved have not been registered under the U.S. Securities Act of 1933 and will be offered under exemptions. The completion of the notes offering is not guaranteed.