By Wendy Van Sickle
Columbus, Ohio, Nov. 29 – Alibaba Group Holding Ltd. priced $7 billion of notes in five tranches on Wednesday, according to a press release.
The notes were priced following investor calls held Monday and Tuesday regarding the Securities and Exchange Commission-registered paper (expected ratings: A1//A+), a market source said.
The $700 million tranche of 5.5-year 2.8% notes priced at 99.853, or a spread of U.S. Treasuries plus 73 basis points.
The $2.55 billion tranche of 10-year 3.4% notes priced at 99.396, or a spread of Treasuries plus 108 bps.
The $1 billion tranche of 20-year 4% notes priced at 99.863, or a spread of Treasuries plus 118 bps.
The $1.75 billion tranche of 30-year 4.2% notes priced at 99.831, or a spread of Treasuries plus 138 bps.
And the $1 billion tranche of 40-year 4.4% notes priced at 99.813, or a spread of Treasuries plus 158 bps.
Morgan Stanley, Citigroup, Credit Suisse, Goldman Sachs (Asia) LLC and JPMorgan are the bookrunners of the notes. Co-managers are ANZ, BNP Paribas, DBS Bank Ltd., HSBC and ING.
Proceeds of the notes are earmarked for general corporate purposes, including working capital needs, repayment of offshore debt and potential acquisitions of, or investments in, complementary businesses.
Approval in principle has been received for the listing and quotation of the notes on the Singapore Exchange Securities Trading Ltd., or the SGX-ST.
Hangzhou, China-based Alibaba is an e-commerce group and internet portal in the People’s Republic of China and internationally.
| Issuer: | Alibaba Group Holding Ltd.
|
| Amount: | $7 billion
|
| Securities: | Senior unsecured notes
|
| Bookrunners: | Morgan Stanley, Citigroup, Credit Suisse, Goldman Sachs (Asia) LLC and JPMorgan
|
| Co-managers: | ANZ, BNP Paribas, DBS Bank Ltd., HSBC and ING
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 6
|
|
|
| 5.5-year notes
|
| Amount: | $700 million
|
| Maturity: | 2023
|
| Coupon: | 2.8%
|
| Price: | 99.853
|
|
|
| 10-year notes
|
| Amount: | $2.55 billion
|
| Maturity: | 2027
|
| Coupon: | 3.4%
|
| Price: | 99.396
|
|
|
| 20-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2037
|
| Coupon: | 4%
|
| Price: | 99.863
|
|
|
| 30-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | 2047
|
| Coupon: | 4.2%
|
| Price: | 99.831
|
|
|
| 40-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2057
|
| Coupon: | 4.4%
|
| Price: | 99.813
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
