Alibaba Said to Plan to Complete $3 Billion Loan This Month
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Alibaba Group Holding Ltd. plans to complete a $3 billion loan this month and probably won’t market the deal more widely in general syndication, said three people familiar with the matter.
The loan is being marketed to banks in senior syndication and Alibaba expects to complete the facility at this stage, with enough commitments from banks to avoid further syndication. Alibaba may raise about $2 billion in senior syndication, the people said yesterday, declining to be identified because the details are private.