Group Holding plans to raise $4.5 billion through a convertible-bond issue to fund share repurchases, following a similar move by rival e-commerce giant JD.com.
The convertible senior notes maturing in seven years will carry a coupon of 0.5%, Alibaba said in a filing to Hong Kong’s stock exchange Friday. The deal size could reach $5.0 billion if the option to purchase additional notes is exercised in full.
Source: WSJ
