Alibaba aims to raise $5 billion in dual currency bond deal, sources say
Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter.
The company in a regulatory filing on Monday said it was considering carrying out the transaction.
The dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond, a term sheet seen by Reuters showed.
Alibaba is also working on a 3.5-year, 5-year, 10-year and 20-year offshore yuan tranche, according to the term sheet.
Prospective investors have been told by banks working on the deal the company is aiming to raise $5 billion, according to the sources.
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