Alibaba aims to raise $5B in USD and RMB denominated notes – report
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Update: The story was updated with tentative bond value.
E-commerce giant Alibaba (NYSE:BABA) to offer U.S. dollar-denominated senior unsecured notes and RMB-denominated senior unsecured notes, subject to market and other conditions.
The dual currency bond deal aims to raise ~$5 billion in multi-tranche dollar and offshore Chinese yuan bonds, a Reuters report showed.
The dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond, the report said citing a term sheet.
The offering of the USD notes and the offering of the RMB notes are not inter-conditional with each other.
The principal amount, interest rates, maturity dates and other terms of the notes will be determined at the time of pricing of the offering.
Proceeds will be deployed for general corporate purposes, including repayment of offshore debt and share repurchases.