Alibaba is planning its first bond sale in the US, taking advantage of low borrowing costs to raise funds for the refinancing of credit facilities just two months after its blockbuster initial public offering.
China’s internet giant will offer dollar-denominated notes to qualified institutional investors in a so-called 144A private placement next week, the company said in a statement. The offer may near the $8bn mark, people familiar with the sale said.
Morgan Stanley, Citigroup, Deutsche Bank and JPMorgan Chase are managing the sale.
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