By Christine Van Dusen
Atlanta, Nov. 20 – China’s Alibaba Group Holding Ltd. sold $8 billion of notes due in 2017, 2019, 2021, 2024, 2034 as part of six-tranche issue of fixed- and floating-rate notes (A1/A+/A+), a market source said.
The $1 billion 1 5/8% notes due 2017 priced at a spread of Treasuries plus 70 basis points, tighter than talk set in the 80 bps area.
The $300 million floating-rate notes due 2017 priced at par to yield Libor plus 52 bps.
The $2.25 billion 2˝% notes due in 2019 priced at a spread of Treasuries plus 95 bps, tighter than talk set in the 110 bps area.
The $1.5 billion 3 1/8% notes due 2021 priced at Treasuries plus 115 bps, tighter than talk set in the 135 bps area.
The $2.25 billion 3.6% notes due 2024 came to the market at 128 bps over Treasuries, following talk in the 150 bps area.
The $700 million notes due in 2034 priced at Treasuries plus 148 bps, tighter than talk set in the 175 bps area.
The company canceled plans for a five-year issue of floating-rate notes.
Citigroup, Deutsche Bank, JPMorgan and Morgan Stanley were the active bookrunners for the Rule 144A and Regulation S deal. Credit Suisse and Goldman Sachs are the passive bookrunners.
Other details were not immediately available on Thursday evening.
Alibaba is an e-commerce group and internet portal based in Hangzhou, China.
| Issuer: | Alibaba Group Holding Ltd.
|
| Amount: | $8 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Deutsche Bank, JPMorgan, Morgan Stanley (active); Credit Suisse, Goldman Sachs (passive)
|
| Trade date: | Nov. 20
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Fitch: A+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Fixed-rate notes due 2017
|
| Amount: | $1 billion
|
| Maturity: | 2017
|
| Coupon: | 1 5/8%
|
| Spread: | Treasuries plus 70 bps
|
| Price talk: | Treasuries plus 80 bps area
|
|
|
| Floaters due 2017
|
| Amount: | $300 million
|
| Maturity: | 2017
|
| Coupon: | Libor plus 52 bps
|
| Price: | Par
|
| Yield: | Libor plus 52 bps
|
|
|
| Fixed-rate notes due 2019
|
| Amount: | $2.25 billion
|
| Maturity: | 2019
|
| Coupon: | 2˝%
|
| Spread: | Treasuries plus 95 bps
|
| Price talk: | Treasuries plus 110 bps area
|
|
|
| Fixed-rate notes due 2021
|
| Amount: | $1.5 billion
|
| Maturity: | 2021
|
| Coupon: | 3 1/8%
|
| Spread: | Treasuries plus 115 bps
|
| Price talk: | Treasuries plus 135 bps area
|
|
|
| Fixed-rate notes due 2024
|
| Amount: | $2.25 billion
|
| Maturity: | 2024
|
| Coupon: | 3.6%
|
| Spread: | Treasuries plus 128 bps
|
| Price talk: | Treasuries plus 150 bps area
|
|
|
| Fixed-rate notes due 2034
|
| Amount: | $700 million
|
| Maturity: | 2034
|
| Spread: | Treasuries plus 148 bps
|
| Price talk: | Treasuries plus 175 bps area
|
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