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Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange on November 11, 2015.
Brendan McDermid | Reuters
Alibaba will currently take advantage of the low interest rate environment in the United States by issuing bonds.
The company said the proceeds will be used for general business purposes, including working capital requirements, offshore debt repayment and potential acquisitions or investments in complementary businesses.
So-called “sustainability notes” will also be issued, with profits going to green projects such as renewable energy, the company said.
Citigroup, Credit Suisse, Morgan Stanley, JP Morgan and CICC are the underwriters of the transaction.
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