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