Alibaba announced on the Hong Kong Stock Exchange that the US$4.5 billion convertible senior notes will calculate interest at an annual interest rate of 0.50%, and the note issuance is expected to be settled on May 29, 2024. The net amount of capital raised from the issuance of the notes will be approximately US$4.436 billion. It is proposed that the proceeds from the issuance of the notes will be used to repurchase American depository shares.
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