Alibaba Completes US$5 Billion Equivalent Senior Unsecured Notes Offerings
11.29.24
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The Firm recently represented Alibaba Group Holding Limited (“Alibaba”) in connection with US$5 billion equivalent senior unsecured notes offerings, consisting of an offering of US$2.65 billion aggregate principal amount of U.S. dollar-denominated senior unsecured notes (“USD Notes”) and an offering of RMB17 billion aggregate principal amount of RMB-denominated senior unsecured notes (“RMB Notes”). The USD Notes include: US$1 billion 4.875% notes due 2030, US$1.15 billion 5.250% notes due 2035 and US$500 million 5.625% notes due 2054. The RMB Notes include: RMB8.4 billion 2.65% notes due 2028, RMB5 billion 2.80% notes due 2029, RMB2.5 billion 3.10% notes due 2034 and RMB1.1 billion 3.50% notes due 2044.
Alibaba intends to use the net proceeds from each offering for general corporate purposes, including repayment of offshore debt and share repurchases.
The Simpson Thacher team included Daniel Fertig, Christopher Wong, Chenjing Shen, June Hu, Zhengyuan Fan and Christy Li (Capital Markets); Jonathan Cantor (Tax); and Jeanne Annarumma (ECEB).