Ctrip Completes Share and Convertible Bond Offering

Skadden represented China-based travel service provider Ctrip.com International, Ltd. in its concurrent offering of 28.5 million American depositary shares at $45.96 a share and $900 million of convertible senior notes. Ctrip also completed private placements of its ordinary shares with Baidu, Inc. and The Priceline Group Inc., both of which are Ctrip's existing shareholders, at $100 million and $25 million, respectively. In addition, Ctrip closed a private placement of $25 million of convertible notes with Priceline.