By South China Morning Post | Created at 2024-11-20 13:31:52 | Updated at 2024-11-20 15:34:37
2 hours ago
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre.
The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function as an offshore centre to trade yuan-denominated assets.
Alibaba’s latest deal already represents the biggest corporate bond issue of its kind in the Asia-Pacific region this year, according to London Stock Exchange Group data. It also marks Alibaba’s return to the public dollar-bond market after its US$5 billion offering in 2021.
The company’s yuan-denominated bond offering was also the largest such corporate debt issue in Hong Kong.
