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Alibaba raises $8 billion in bond deal

Happenings

New York (AFP)

Chinese e-commerce giant Alibaba raised $8 billion in a bond offering, the Wall Street Journal said.

The company announced one week ago that it planned to make the sale, with the intention to repay an $8 billion loan owed to banks. Maturities ranged from three to 20 years in the six-part deal, the Journal reported.

Alibaba raises $8 billion in bond deal
Ali Baba

It called the transaction one of the largest corporate bond deals of the year.

Alibaba completed the world’s largest stock offering with its listing on the New York Stock Exchange in September, with an offer price of $68. It closed at $109.82 Thursday, up .92 percent.