Alibaba Group Holding (HKG:9988) affiliate Ant Group plans to refinance up to $6.5 billion in an offshore credit line, Bloomberg News reported Thursday, citing people familiar with the matter.
Of the amount, Ant plans to allot $1.5 billion for overseas unit Ant International, the report said.
The development comes as Ant grows its international operations, the report said.
Ant Group did not immediately respond to a request for comment from MT Newswires.
Ant Group is 33% held by Alibaba.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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