China's Alibaba Group raises $5 billion in dual currency bond deal

Quick Summary:

Alibaba intends to use the net proceeds from the offering of the notes for general corporate purposes, including repayment of offshore debt and share repurchases.

The company's shares were down 2 per cent in Hong Kong trading on Wednesday but are 11.4 per cent higher year-to-date.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.

The report said Alibaba was also working on a 3.5-year, 5-year, 10-year and 20-year offshore yuan tranche.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaHong Kong

Topics: Alibaba Currency bond deal Alibaba Group Fund raising Alibaba currency bond deal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 11:42:52 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 362 words

Reading Time: 3 minutes read

Sentences: 15 lines

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Copyright Owner: © Business Standard

News ID: 23714696

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