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Alibaba plans to raise at least $5 bn via dollar bond this month: Report

Chinese e-commerce leader Alibaba Group Holding plans to raise at least $5 billion through the sale of a US dollar-denominated bond this month, four people with direct knowledge of the matter said

Topics
Alibaba | Jack Ma | China

Reuters  |  HONG KONG 

The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China
The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China

HONG KONG (Reuters) - Chinese e-commerce leader Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with direct knowledge of the matter said.

Depending on investor response, proceeds could reach $8 billion which is likely to use for general corporate expenditure, one of the people said.

The plan, including the timeline, is not final and subject to change, the people said, declining to be identified as they were not authorised to speak to the media.

declined to comment.

 

(Reporting by Sumeet Chatterjee, Julie Zhu and Kane Wu; Additional reporting by Scott Murdoch and Anshuman Daga; Editing by Christopher Cushing)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, January 06 2021. 08:37 IST
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