Alibaba Group prices $5 billion dual currency bond offering
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- E-commerce giant Alibaba Group (NYSE:BABA) Tuesday after market reported the pricing of an offering of $2.65 billion aggregate principal amount of U.S. dollar-denominated senior unsecured notes.
- The offering consists of $1B 4.875% notes due 2030 at an issue price per note of 99.838%; $1.15B 5.250% notes due 2035 at an issue price per note of 99.649%; and $500M 5.625% notes due 2054 at an issue price per note of 99.712%.
- It also priced an offering of RMB17 billion ($2.35B) aggregate principal amount of RMB-denominated senior unsecured notes.
- The offering of the USD Notes is expected to close on November 26, and the offering of the RMB Notes is expected to close on November 28.
- Alibaba (NYSE:BABA) intends to use the net proceeds from the offering of the Notes for general corporate purposes, including repayment of offshore debt and share repurchases.
- Source: Press Release