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Alibaba Raises $5B in First Dollar Bonds in 4 Years; $2.65B USD, RMB17B Notes
Nov 21, 2024, 09:54 AM
Alibaba Group Holding Ltd., China's biggest e-commerce company, has raised $5 billion in a dual-currency bond deal, marking its first public dollar bond issuance in nearly four years. The Chinese internet giant priced $2.65 billion of U.S. dollar-denominated senior unsecured notes and RMB17 billion of RMB-denominated senior unsecured notes. This transaction is the largest deal of its kind in the Asia-Pacific region this year. The proceeds from the offering will be used to repay offshore debt and repurchase equity, as Alibaba seeks to strengthen its financial position.
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