Chinese Internet tourism service provider Ctrip.com recently announced that the company had signed a fund raising agreement with specific financial institutions to raise up to USD2.5 billion.

According to the agreement, Ctrip will gain USD2 billion worth of transferable term loan financing from the above mentioned financial institutions, along with up to USD500 million "green shoe option".

The valid period of the loan agreement is three years and Ctrip may use the loan income to meet general working capital demands, including repay any current debt.

Ctrip's financial report for the first quarter of 2019 showed that by March 31, 2019, the company owned CNY61.6 billion cash, cash equivalents, restricted cash and short-term investments, which was about USD9.2 billion.

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