By Rebecca Melvin
Columbus, Ohio, Nov. 30 – Alibaba Group Holding Ltd. added more terms of the $7 billion issue of notes that priced in five tranches on Wednesday.
As reported, the notes priced following investor calls held Monday and Tuesday regarding the Securities and Exchange Commission-registered paper (expected ratings: A1/A+/A+).
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, ING and Mizuho Securities.
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.
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Amount: | $7 billion
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Securities: | Senior unsecured notes
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Bookrunners: | Morgan Stanley, Citigroup, Credit Suisse, Goldman Sachs (Asia) LLC and JPMorgan
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Co-managers: | ANZ, BNP Paribas, DBS Bank Ltd., HSBC, ING and Mizuho Securities
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Pricing date: | Nov. 29
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Settlement date: | Dec. 6
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Ratings: | Moody’s: A1
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| S&P’s: A+
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| Fitch: A+
|
|
5.5-year notes
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Amount: | $700 million
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Maturity: | June 6, 2023
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Coupon: | 2.8%
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Price: | 99.853
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Yield: | 2.829%
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Spread: | Treasuries plus 730 bps
|
|
10-year notes
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Amount: | $2.55 billion
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Maturity: | Dec. 6, 2027
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Coupon: | 3.4%
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Price: | 99.396
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Yield: | 3.472%
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Spread: | Treasuries plus 108 bps
|
|
20-year notes
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Amount: | $1 billion
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Maturity: | Dec. 6, 2037
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Coupon: | 4%
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Price: | 99.863
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Yield: | 4.010%
|
Spread: | Treasuries plus 118 bps
|
|
30-year notes
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Amount: | $1.75 billion
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Maturity: | Dec. 6, 2047
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Coupon: | 4.2%
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Price: | 99.831
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Yield: | 4.210%
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Spread: | Treasuries plus 138 bps
|
|
40-year notes
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Amount: | $1 billion
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Maturity: | Dec. 6, 2057
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Coupon: | 4.4%
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Price: | 99.813
|
Yield: | 4.410%
|
Spread: | Treasuries plus 158 bps
|
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