Business
ZTO Announces Proposed Offering of US$1.5 Billion Convertible Senior Notes
ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057), a leading and fast-growing express delivery company in China ("ZTO" or the "Company"), today announced a proposed offering (the "Notes Offering") of US$1.5 billion in aggregate principal amount of convertible senior notes due 2031 (the "Notes") in offshore transactions outside the United States to non-U.S. persons that are "qualified institutional buyers" (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the
About this update from Zto Express (cayman), Inc. Class A
[{"type":"text","content":"SHANGHAI, Feb. 4, 2026 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057), a leading and fast-growing express delivery company in China ("ZTO" or the "Company"), today announced a proposed offering (the "Notes Offering") of US$1.5 billion in aggregate principal amount of convertible senior notes due 2031 (the "Notes") in offshore transactions outside the United States to non-U.S. persons that are "qualified institutional buyers" (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act")) in reliance on Regulation S under the Securities Act, subject to market conditions and other factors.","length":745,"tagName":"p"},{"type":"text","content":"The Company plans to use the net proceeds from the Notes Offering (i) for refinancing to fund near-term on-market repurchases (from time to time) of Class A ordinary shares and/or American depositary shares ("ADSs") of the Company pursuant to its share repurchase program(s), subject to prevailing market conditions, as well as applicable laws and regulations, (ii) to fund the Concurrent Share Repurchase (as defined below) and the premium of the capped call transactions as described below, and (iii) for other general corporate purposes.","length":560,"tagName":"p"},{"type":"text","content":"When issued, the Notes will be general senior unsecured obligations of ZTO. The Notes will mature on March 1, 2031, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.","length":216,"tagName":"p"},{"type":"text","content":"Holders may not convert the Notes at any time prior to the 40th day following the last date of the original issuance of the Notes (such date, the "Compliance Period End Date"). After the Compliance Period End Date, holders may convert their Notes at their option at any time prior to the close of business on the fifth scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver, as the case may be, cash, Class A ordinary shares, or a combination of cash and Class A ordinary shares, at the Company's election. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time ...