Market Chatter: Alibaba Offers First Dollar Bonds in Nearly Four Years

MT Newswires Live11-20 03:51

Alibaba Group (BABA) is offering its first public dollar bonds in nearly four years to repay its offshore debt and repurchase shares, Bloomberg reported Tuesday, citing a person with knowledge of the matter.

The company will issue the debt in three parts, with a 30-year bond being the longest portion of the offering. The bond will carry an interest rate of 1.05 percentage points above comparable Treasuries, down from an initial price talk of 1.30 percentage points, the person reportedly said.

The transaction drew $18 billion in orders, $13 billion of which was ahead of the US open, according to the report.

Alibaba did not immediately respond to MT Newswires' request for comment.

Shares of Alibaba Group were down 2.6% in recent trading.

(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.)

Price: 87.08, Change: -2.27, Percent Change: -2.54

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