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Alibaba Raises $5B Long-Term Debt For Refinancing Debt, Acquisitions And Sustainability Projects

· 02/05/2021 07:49
  • Alibaba Group Holding Limited (NYSE: BABApriced debt offering worth $5 billion. The offering included $1 billion 2.7% sustainability notes due 2041, $1.5 billion 2.125% notes due 2031, $1.5 billion 3.150% notes due 2051, and $1 billion 3.250% notes due 2061.
  • The offering proceeds excluding the sustainability notes pertained to general corporate requirements, including working capital, offshore debt repayment, acquisitions, and investments.
  • The remaining proceeds catered to financing projects regarding green buildings, energy efficiency, COVID-19, and renewable energy.
  • It is worth noting that Ant Group could spin-off consumer-credit data operations to help the company revive suspended IPO within two years
  • Price action: BABA’s shares are trading lower by 0.30% at $266.15 in the pre-market session on the last check Friday.