Alibaba seeking to raise $1.53 billion via exchangeable bonds

Investing.com -- Chinese tech giant Alibaba (NYSE: BABA) Group announced Thursday it aims to raise approximately HK$12 billion ($1.53 billion) through exchangeable bonds to increase investments in cloud infrastructure and global commerce operations.

The bonds will be linked to Alibaba Health Technology, in which Alibaba Group owns more than 44%. Investors who purchase these bonds will have the option to exchange them for shares in Alibaba Health at a later date. The bonds will not pay interest over time.

This debt offering comes after Alibaba’s $5 billion dual-currency bond issuance in November, which was the largest deal of its kind in the Asia-Pacific region during 2024.

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