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Alibaba seeks $5 billion loan amid tech financing rush - Basis Point

Reuters  |  HONG KONG 

HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd is in talks with banks to raise $5 billion in new funding, sources told Thomson Reuters' Basis Point, amid a flurry of fund-raising by China's tech giants. Alibaba is looking to raises the funds offshore via a bullet loan with a five-year maturity, with the aim of using the proceeds for general corporate purposes including refinancing, the sources said.The plan comes as key rival Tencent Holdings looks to raise up to $2 billion in new debt funding, with competition heating up amongst the country's Internet firms ...

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First Published: Thu, March 09 2017. 19:53 IST