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BABA-W Proposes to Issue ~$12B Zero Coupon Exchangeable Bonds by Reference to Shrs of ALI HEALTH
Recommend 41 Positive 69 Negative 55 |
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BABA-W (09988.HK) announced that it proposed exchangeable bond offering by reference to the ordinary shares of ALI HEALTH (00241.HK) that are listed on the Hong Kong Stock Exchange. The Company proposed to issue approximately HK$12 billion aggregate principal amount of Zero Coupon Exchangeable Bonds due 2032, subject to market and other conditions. When issued, the Bonds will be unsecured and unsubordinated obligations of Alibaba Group. The Bonds will not bear regular interest. The Bonds will mature on July 9, 2032, unless earlier redeemed, exchanged or purchased in accordance with their terms prior to such date. Holders of the Bonds may exchange all or any portion of the Bonds at their option at any time on or after the 41st day following the issue date of the Bonds to, and including, the close of business on the fifth scheduled trading day immediately preceding the maturity date of the Bonds. Alibaba Group intends to use the net proceeds from the Bond Offering for general corporate purposes, including investments to support the development of its cloud infrastructure and international commerce businesses. AAStocks Financial News |
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