SYDNEY : Chinese ecommerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter.The company in a regulatory filing on Monday said it was considering carrying out the transaction.
FILE PHOTO: The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File PhotoSYDNEY : Chinese ecommerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter.The dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond, a term sheet seen by Reuters showed.
Alibaba is also working on a 3.5-year, 5-year, 10-year and 20-year offshore yuan tranche, according to the term sheet. Prospective investors have been told by banks working on the deal the company is aiming to raise $5 billion, according to the sources.Alibaba said in the regulatory filing the size, interest rate and maturity would be determined as the transaction progressed.
The company said it would use the cash raised for general corporate purposes including debt repayment and funding share repurchases. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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