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Alibaba to sell bonds to repay debt, fund stock buy-back amid low interest rates

SCMP LogoSCMP3h ago

Alibaba to sell bonds to repay debt, fund stock buy-back amid low interest rates - SCMP

Quick Summary:

The Chinese e-commerce leader is issuing bonds denominated in US-dollar and yuan to help repay debt and fund stock repurchases.

Based in Hangzhou in eastern Zhejiang province, Alibaba has embarked on its most aggressive stock buy-back since launching the programme in the midst of the Covid-19 pandemic in late 2020 to shore up its share price.It has spent US$14.7 billion this calendar year, versus US$9.5 billion in 2023, US$10.9 billion in 2022 and US$10.6 billion in 2021, according to its filings.

The company earlier raised US$5.5 billion in May from a convertible bond issue.


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Article Details

Author / Journalist: Wency Chen

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 16:00:53 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 297 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23652960

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Main Topics: Business

Official Website: scmp.com

Update Frequency: 13 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 1 hours ago

Coverage Areas: Hong Kong

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Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #42

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  • URL: https://beamstart.com/news/alibaba-to-sell-bonds-to-17319180041433

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