More Banks Join in Alibaba $8 Billion Loan
The number of lenders participating in an $8 billion loan to Alibaba Group Holding in advance of its much-anticipated initial public offering has grown to 22, a person familiar with the loan said on Wednesday.
The large number — well above the 10 that’s common in Asia on loans of more than $5 billion — shows the continued high interest in the company, which is expected to raise tens of billions of dollars in its IPO. For the banks that can underwrite IPOs — that is, that aren’t purely commercial lenders — involvement in the loan has been seen as a way to deepen a relationship with Alibaba that could lead to a large role when the technology giant lists, which could be as early as this year.
