By Scott Murdoch
SYDNEY (Reuters) – Chinese e-commerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter.
The company said in a regulatory filing on Monday that it is considering executing the transaction.
The dollar tranche would consist of a dollar bond with maturities of 5.5 years, 10.5 years and 30 years, a Reuters term sheet showed.
Alibaba is also working on a 3.5-year, 5-year, 10-year and 20-year tranche for the offshore yuan, according to the term sheet.
Potential investors have been told by the banks working on the deal that the company is looking to raise $5 billion, according to the sources.
The sources do not want to be named because the information is confidential.
Alibaba said in the regulatory filing that the size, interest rate and term would be determined as the transaction progressed.
The company said it would use the money raised for general corporate purposes, including debt repayment and stock buyback financing.
(Reporting by Scott Murdoch; Editing by Kim Coghill and Cynthia Osterman)
