HONG KONG, Jan. 6 (Reuters) – Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least $ 5 billion this month from the sale of a US dollar-denominated bond, said four people with direct knowledge of the case.
Depending on investor response, proceeds could reach up to $ 8 billion, which Alibaba will likely use for general corporate spending, one said.
The plan, including the timeline, is not final and is subject to change, the people said, who refused to be identified because they were not authorized to speak to the media.
Alibaba declined to comment. (Reporting by Sumeet Chatterjee, Julie Zhu, and Kane Wu; additional reporting by Scott Murdoch and Anshuman Daga; edited by Christopher Cushing)