22 September, 2016
Davis Polk advised the initial purchasers in a Rule 144A and Regulation S offering by Ctrip.com International, Ltd. of $900 million aggregate principle amount of 1.25% convertible notes due 2022 and as the underwriters in a concurrent registered shelf takedown of 28,500,000 American depositary shares. The total proceeds of the shelf takedown were approximately $1.3 billion.
Ctrip.com International, Ltd. is a NASDAQ-listed company and a leading travel service provider for hotel accommodations, airline tickets, train tickets, bus tickets, packaged tours and corporate travel management in China.
The Davis Polk corporate team included partners James C. Lin and John M. Brandow, registered foreign lawyer Bo Huang, associates Barry J. Gewolb and Won Lee. Partner Michael Farber and associate Veronica Orecharova provided tax advice. Members of the Davis Polk team are based in the Hong Kong, New York and London offices.
