Market Overview

Alibaba Announces $8 Billion Bond Sale

Share:
Related BABA
Holiday Shopping and Retail Sector Impact
Jack Ma Is Prepared To Step Away From Alibaba ... Just Not Yet
Your Brain On Investing In 5 Charts (Seeking Alpha)

Bloomberg reported Thursday that Alibaba Group Holding Ltd (NYSE: BABA) is planning a U.S. dollar-denominated bond sale to refinance existing credit facilities.

The company has existing credit lines and loans equal to approximately $11 billion. The report noted that a $4 billion loan obtained in 2013 charged 2.75 percentage points above LIBOR. No details were released on the expected coupon rate for the new bonds.

According to the report, the bonds have been given an investment-grade S&P rating of A+.

Bloomberg noted that "Morgan Stanley, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co. will market the debt to investors starting next week, according to a person with knowledge of the matter, who asked not to be identified, citing lack of authorization to speak publicly."

The news comes shortly after the company’s record-setting Singles Day sales of $9.3 billion.

Alibaba recently traded at $114.97, down 2.8 percent.

Posted-In: Bloomberg Citi deutsche JP Morgan Morgan StanleyNews

 

Related Articles (BABA)

View Comments and Join the Discussion!