Alibaba resumes plan for bond sale
The deal could total up to $5 billion and include bonds with maturities as long as 40 years
Stocks impacted: Alibaba Group (9988)
Alibaba said it planned to issue dollar debt, including some bonds to fund sustainability-related projects, subject to market conditions. The deal’s total size hadn’t been fixed, nor had the bonds’ maturities. However, the company noted that the deal could total up to $5 billion and include bonds with maturities as long as 40 years. Chinese e-commerce giant’s decision to resume plans for bond sale comes after it reported its fourth-quarter earnings that exceeded expectations while its cloud computing division turned profitable for the first time. As a reminder, the company is now facing an anti-monopoly probe, so the debt issuance will be a test of investor appetite for Alibaba. The firm’s stocks finished 3.77% lower on Wednesday.
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