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Published on 24 May 2024 on Benzinga

Alibaba To Raise $4.5B Through Convertible Bonds For Share Buybacks Amid Fierce Competition, Slow...

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In a bid to fund share repurchases, Alibaba Group Holding Ltd BABA has announced a $4.5 billion convertible bond issue. This move comes amid increasing competition and a sluggish Chinese economic recovery.

What Happened: Alibaba plans to issue convertible senior notes maturing in seven years with a coupon of 0.5%, reported The Wall Street Journal. The deal size could reach $5.0 billion if the option to purchase additional notes is exercised in full.

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Benzinga 24 May 2024

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