China’s Alibaba talks dollar notes in seven parts; pricing Thursday

By Christine Van Dusen

Atlanta, Nov. 20 – China’s Alibaba Group Holding Ltd. gave guidance for dollar-denominated notes due in 2017, 2019, 2021, 2024 and 2034 as part of seven-tranche offering of fixed- and floating-rate notes, a market source said.

The three-year fixed-rate notes were talked at a spread in the Treasuries plus 80 basis points area.

The five-year fixed-rate notes were talked at a spread in the Treasuries plus 110 bps area.

The seven-year fixed-rate notes were talked at a spread in the Treasuries plus 135 bps area.

The 10-year fixed-rate notes were talked at a spread in the Treasuries plus 150 bps area.

And the 20-year fixed-rate notes were talked at a spread in the Treasuries plus 175 bps area.

The deal also includes floating-rate notes due in three and five years.

Citigroup, Deutsche Bank, JPMorgan and Morgan Stanley are the active bookrunners for the Rule 144A and Regulation S deal. Credit Suisse and Goldman Sachs are the passive bookrunners.

The notes are expected to price on Thursday.

Alibaba is an e-commerce group and internet portal based in Hangzhou, China.

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