Alibaba Lands $8 Billion Loan

By  |  May 2, 2013
 | 

Chinese eCommerce giant Alibaba Group Holdings had landed an $8 billion loan from nine banks, according to The Wall Street Journal.

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    Alibaba’s loan is geared towards refinancing existing debts and raising additional funds, and the nine cooperating banks have offered money in the hopes that they will play a part in Alibaba’s IPO. The $8 million is comprised of one $2.5 billion three-year loan, one $4 billion five-year loan and one $1.5 billion three-year revolving credit facility.

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    The nine participating banks are: Australia & New Zealand Banking Group, Credit Sussie Group, Citigroup, Deutsche Bank, DBS Group Holdings, HSBC Holdings, JPMorgan Chase, Morgan Stanley and Mizuho Corporate Bank.

    Read the full story here.


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