Alibaba Seeks to Refinance $6.5 Billion Bank Loan Due Next Year

Technology giant Alibaba Group Holding Ltd. is in talks with banks to refinance a $6.5 billion loan maturing next year, according to people familiar with the matter.

Alibaba is offering to pay a pricing of below 80 basis points over the Secured Overnight Financing Rate to existing lenders agreeing to grant a five-year revolving credit facility, the people said, asking not to be identified discussing private matters. Talks are ongoing and details of the financing could still change, they added.