Alibaba Obtains $8 Billion Loan
Chinese e-commerce company Alibaba Group Holding Ltd. has obtained an US$8 billion loan from nine banks, a person with knowledge of the matter said.
Alibaba closed the loan deal on April 30, the person said. The nine banks providing the loan are Australia & New Zealand Banking Group Ltd., Credit Suisse Group AG, Citigroup Inc., Deutsche Bank AG, DBS Group Holdings Ltd., HSBC Holdings PLC, J.P. Morgan Chase, Morgan Stanley MS and Mizuho Corporate Bank Ltd., the person said.
The financing comprises three tranches: a $2.5 billion three-year term loan, a $4 billion five-year term loan and a $1.5 billion three-year revolving credit facility, the person said.