Jack Ma-Backed Ant Is Refinancing a Credit Line of $6.5 Billion
- Ant International will be allocated $1.5 billion of the quota
- The fintech company has been expanding globally and in AI
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Jack Ma-backed Ant Group Co. is refinancing an offshore credit line that will reach $6.5 billion, as it expands its global operations, according to people familiar with the matter.
The Chinese company plans to allocate $1.5 billion of the borrowing quota for its overseas arm Ant International, the people said, asking not to be identified because the matter is private. Ant said in an emailed statement that the company is refinancing an existing syndicated bank credit line from 2019.