HONG KONG, Jan. 6 (Reuters) – Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least $ 5 billion through the sale of a bond denominated in US dollars this month, four people said with direct knowledge of the matter.
According to the investor response, revenue could reach $ 8 billion that Alibaba will likely use for general corporate expenses, one person said.
The plan, including the timeline, is not final and is subject to change.
Alibaba declined to comment. (Report by Sumeet Chatterjee, Julie Zhu and Kane Wu; Additional Report by Scott Murdoch and Anshuman Daga; Edited by Christopher Cushing)