Alibaba to Offer Notes for Debt Repayment, Share Repurchases
- Alibaba to sell notes after issuing a record convertible bond
- Company is said to be considering notes of about $5 billion
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Alibaba Group Holding Ltd. has hired banks to sell dollar and yuan bonds that will be used to pay back offshore debt and buy back shares, following the Chinese tech conglomerate’s issuance of a record convertible bond earlier this year.
Details, including the principal amount and interest rates, are not yet determined, according to a statement dated Sunday. Bloomberg reported on Nov. 15 that Alibaba was considering selling bonds totaling about $5 billion.