Alibaba Group Announces Offering Of About $3.2 Bln Of Zero Coupon Convertible Senior Notes Due 2032

(RTTNews) - Alibaba Group Holding Limited (BABA, 9988.HK) announced a proposed offering of about US$3.2 billion aggregate principal amount of Zero Coupon Convertible Senior Notes due 2032.

The company said it will use the net proceeds from the Notes Offering for general corporate purposes, with a strategic focus on strengthening its cloud infrastructure capabilities and international commerce business operations.

Specifically, the allocation will include approximately 80% directed towards enhancing its cloud infrastructure, which encompasses scaling up data centers, upgrading technology, and improving services to meet growing demand. The remaining 20% will be invested in expanding international commerce operations, focusing on operational investments that will enable the Company to enhance its market presence and efficiency.