BEIJING (dpa-AFX) - Alibaba Group Holding Limited (BABA) announced the
pricing of its private offering of US$4.500 billion aggregate principal amount
of 0.50% Convertible Senior Notes due 2031.

The company also granted the initial purchasers in the Notes Offering an option
to purchase up to an additional US$500 million aggregate principal amount of the
Notes, exercisable for settlement within a 13-day period, beginning on, and
including, the first date on which the Notes are issued.

The Notes Offering is expected to close on May 29, 2024.

Alibaba Group estimates that the net proceeds from the Notes Offering will be
about US$4.436 billion or US$4.930 billion if the initial purchasers' option is
exercised in full.

Alibaba Group intends to use the net proceeds from the Notes Offering to
repurchase approximately 14.8 million of its American depositary shares; fund
further share repurchases; and fund the US$573.75 million cost of entering into
the capped call transactions.

The Notes will mature on June 1, 2031, unless earlier redeemed, repurchased or
converted in accordance with their terms prior to such date. The Notes will bear
interest at a rate of 0.50% per year, payable in arrears on June 1 and December
1, of each year, beginning on December 1, 2024.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX