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Exclusive-Alibaba plans to raise at least US$5 billion via dollar bond this month -sources

Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least US$5 billion through the sale of a U.S. dollar-denominated bond this month, four people with direct knowledge of the matter said.

FILE PHOTO: The Alibaba Group logo is seen during the company's 11.11 Singles' Day global
FILE PHOTO: The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at its headquarters in Hangzhou, Zhejiang province, China, November 11, 2020. REUTERS/Aly Song

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HONG KONG: Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least US$5 billion through the sale of a U.S. dollar-denominated bond this month, four people with direct knowledge of the matter said.

Depending on investor response, proceeds could reach US$8 billion which Alibaba is likely to use for general corporate expenditure, one of the people said.

The plan, including the timeline, is not final and subject to change, the people said, declining to be identified as they were not authorised to speak to the media.

Alibaba declined to comment.

(Reporting by Sumeet Chatterjee, Julie Zhu and Kane Wu; Additional reporting by Scott Murdoch and Anshuman Daga; Editing by Christopher Cushing)

Source: Reuters