Business
ZTO Prices 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 the pricing of US$1.5 billion in aggregate principal amount of convertible senior notes due 2031 (the "Notes"). The Notes have been offered 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 the pricing of US$1.5 billion in aggregate principal amount of convertible senior notes due 2031 (the "Notes"). The Notes have been offered 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.","length":685,"tagName":"p"},{"type":"text","content":"The Company plans to use the net proceeds from the Notes Offering for the following purposes: (i) up to US$1,000 million 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) approximately US$500 million to fund the Concurrent Share Repurchase (as defined below), the premium of the capped call transactions as described below and other general corporate purposes.","length":626,"tagName":"p"},{"type":"text","content":"When issued, the Notes will be general senior unsecured obligations of ZTO. The Notes will bear interest at a rate of 0.925% per year, payable semiannually in arrears on March 1 and September 1 of each year, beginning on September 1, 2026. The Notes will mature on March 1, 2031, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.","length":400,"tagName":"p"},{"type":"text","content":"The initial conversion rate of the Notes is 32.3130 of the Company's Class A ordinary shares per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately HK$241.79 per Class A ordinary share and represents a conversion premium of approximately 35.0% above the closing price of the Company's Class A ordinary shares on February 4, 2026, which was HK$179.10 per Class A ordinary shares). The conversion rate ...