Alibaba Group Holding Ltd. (HK:9988) has released an update.
Alibaba Group Holding Limited has successfully completed a private offering of $5 billion in 0.50% Convertible Senior Notes due in 2031, including full exercise of an additional $500 million option by initial purchasers. These notes, potentially convertible into cash, Alibaba’s ADSs, or a mix, have provisions to limit dilution from conversions, such as capped call transactions. The offering aims to reduce potential dilution to ordinary shares and ADSs upon conversion, with terms that cater to qualified institutional buyers and certain non-U.S. persons.
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