UPDATE 1-China's Ant Group refinancing $6.5 bln credit line

Reuters09-12

(Adds details from media report, background)

Sept 12 (Reuters) -

China's Ant Group is refinancing its $6.5 billion credit line, a company spokesperson said on Thursday, as the fintech giant backed by Alibaba founder Jack Ma looks to bolster its overseas operations.

The refinancing was for an existing syndicated bank credit line from 2019, the spokesperson added.

The company plans to allocate $1.5 billion of the borrowing quota for its overseas arm Ant International, Bloomberg News reported, citing people familiar with the matter. Bloomberg reported the development earlier on Thursday.

Ant Group, which operates China's ubiquitous mobile payment app Alipay, reshuffled its organizational structure in March, setting up individual boards for some of its units to allow them to operate more independently, Reuters had reported.

In August, the company

showed

a roughly 10% drop in quarterly net profit to 12 billion yuan ($1.69 billion), based on Reuters calculations.

($1 = 7.1186 Chinese yuan renminbi)

(Reporting by Deborah Sophia in Bengaluru and Casey Hall in Shanghai, Editing by Anil D'Silva)

((DeborahMary.Sophia@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2466602270?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-12 21:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2466602270","market":"sh","top_or_hot":-1,"title":"UPDATE 1-China's Ant Group refinancing $6.5 bln credit line","media":"Reuters","content":"<html><body><p>(Adds details from media report, background)</p><p>      Sept 12 (Reuters) - </p><p>   China's Ant Group    is refinancing its $6.5 billion credit line, a company spokesperson said on Thursday, as the fintech giant backed by Alibaba    founder Jack Ma looks to bolster its overseas operations.    </p><p>   The refinancing was for an existing syndicated bank credit line from 2019, the spokesperson added.</p><p>   The company plans to allocate $1.5 billion of the borrowing quota for its overseas arm Ant International, Bloomberg News reported, citing people familiar with the matter. Bloomberg reported the development earlier on Thursday.     </p><p>   Ant Group, which operates China's ubiquitous mobile payment app Alipay, reshuffled its organizational structure in March, setting up individual boards for some of its units to allow them to operate more independently, Reuters had reported. </p><p>       In August, the company </p><p>   showed</p><p>    a roughly 10% drop in quarterly net profit to 12 billion yuan ($1.69 billion), based on Reuters calculations.</p><p>  ($1 = 7.1186 Chinese yuan renminbi)</p><p> (Reporting by Deborah Sophia in Bengaluru and Casey Hall in Shanghai, Editing by Anil D'Silva)</p><p>((DeborahMary.Sophia@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UPDATE 1-China's Ant Group refinancing $6.5 bln credit line</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUPDATE 1-China's Ant Group refinancing $6.5 bln credit line\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-12 21:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Adds details from media report, background)      Sept 12 (Reuters) -    China's Ant Group    is refinancing its $6.5 billion credit line, a company spokesperson said on Thursday, as the fintech giant...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0048580855.USD","symbol_name":"富达大中华区A","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2466602270","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466602270","pubTimestamp":1726146887,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"(Adds details from media report, background)      Sept 12 (Reuters) -    China's Ant Group    is refinancing its $6.5 billion credit line, a company spokesperson said on Thursday, as the fintech giant","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"89988":"阿里巴巴-WR","LU0048580855.USD":"富达大中华区A","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","BK1608":"元宇宙概念","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","BK1517":"云办公","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU0228659784.USD":"施罗德金砖四国基金","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0132412106.USD":"abrdn SICAV I - EMERGING MARKETS EQUITY \"A\" (USD) ACC","BABA":"阿里巴巴","LU0048597586.USD":"富达亚洲焦点A","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","BK1588":"回港中概股","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0051755006.USD":"摩根大通中国A (dist)","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","BK1521":"挪威政府全球养老基金持仓","LU0029874905.USD":"TEMPLETON EMERGING MARKETS \"A\" INC","BK1586":"云计算","LU0164872284.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0052750758.USD":"富兰克林中国基金A Acc","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU0261950983.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" ACC","LU0173614495.USD":"富达中国焦点A","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","BK1142":"互联网与直销零售","BK1591":"就地过年概念","LU0054237671.USD":"FIDELITY ASIAN SPECIAL SITUATIONS \"A\" INC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","09988":"阿里巴巴-W"},"translate_title":"更新1-蚂蚁集团再融资65亿美元信贷额度","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89988":0.6,"09988":0.9,"BABA":0.8},"content_text":"(Adds details from media report, background)      Sept 12 (Reuters) -    China's Ant Group    is refinancing its $6.5 billion credit line, a company spokesperson said on Thursday, as the fintech giant backed by Alibaba    founder Jack Ma looks to bolster its overseas operations.       The refinancing was for an existing syndicated bank credit line from 2019, the spokesperson added.   The company plans to allocate $1.5 billion of the borrowing quota for its overseas arm Ant International, Bloomberg News reported, citing people familiar with the matter. Bloomberg reported the development earlier on Thursday.        Ant Group, which operates China's ubiquitous mobile payment app Alipay, reshuffled its organizational structure in March, setting up individual boards for some of its units to allow them to operate more independently, Reuters had reported.        In August, the company    showed    a roughly 10% drop in quarterly net profit to 12 billion yuan ($1.69 billion), based on Reuters calculations.  ($1 = 7.1186 Chinese yuan renminbi) (Reporting by Deborah Sophia in Bengaluru and Casey Hall in Shanghai, Editing by Anil D'Silva)((DeborahMary.Sophia@thomsonreuters.com;))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466602270"}