Alibaba to Raise $5 Billion Through Dual-Currency Bond Issuance

MT Newswires Live11-20 10:12

Alibaba Group Holding (HKG:9988) plans to raise $5 billion through a dual-currency bond issuance, according to a Wednesday filing with the Hong Kong bourse.

The Chinese e-commerce company will issue three US dollar-denominated bonds worth $2.65 billion and yuan-denominated bonds worth 17 billion yuan ($2.35 billion).

The US dollar bonds include $1.0 billion 4.875% notes due in 2030, $1.15 billion of 5.250% notes due in 2035, and $500 million of 5.625% bonds due in 2054.

The yuan-denominated bonds include 8.40 billion yuan of 2.65% notes due in 2028, 5.0 billion yuan of 2.80% notes due in 2029, 2.50 billion yuan of 3.10% notes due in 2034 and RMB1.1 billion yuan of 3.50% notes due in 2044.

The USD bond offering will close on Nov. 26, while the yuan bonds on Nov. 28.

Alibaba plans to use the funds for debt retirement and share repurchases, among other purposes.

Price (HKD): $84.70, Change: $-0.55, Percent Change: -0.65%

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