Alibaba Group Holdings Limited (“Alibaba”) announced on May 23, 2024 that it plans to issue US$45 billion of convertible senior notes, which will mature on June 1, 2031. THE ISSUE WILL BE PRIVATELY PRICED UNDER SECTION 144A OF THE U.S. SECURITIES ACT AND WILL BE TRADED OFFSHORE FOR CERTAIN NON-U.S. PERSONS. Alibaba will grant initial purchasers an additional option to purchase notes totaling up to US$5 billion in principal amount. THE COMPANY INTENDS TO USE NET PROCEEDS TO CONDUCT SYNCHRONIZED REPURCHASES OF U.S. DEPOSITARY SHARES, TO PROVIDE FUNDS FOR FUTURE SHARE REPURCHASES AND TO FUND THE COSTS REQUIRED TO SET LIMIT BULLISH TRADES. The Notes will be subject to the Company's general priority unsecured liability, with holders having the option...Show More

Alibaba Group Holdings Limited (“Alibaba”) announced on May 23, 2024 that it plans to issue US$45 billion of convertible senior notes, which will mature on June 1, 2031. THE ISSUE WILL BE PRIVATELY PRICED UNDER SECTION 144A OF THE U.S. SECURITIES ACT AND WILL BE TRADED OFFSHORE FOR CERTAIN NON-U.S. PERSONS. Alibaba will grant initial purchasers an additional option to purchase notes totaling up to US$5 billion in principal amount. THE COMPANY INTENDS TO USE NET PROCEEDS TO CONDUCT SYNCHRONIZED REPURCHASES OF U.S. DEPOSITARY SHARES, TO PROVIDE FUNDS FOR FUTURE SHARE REPURCHASES AND TO FUND THE COSTS REQUIRED TO SET LIMIT BULLISH TRADES. The Notes will be subject to the Company's general priority unsecured liability, with holders having the option to convert the Notes into cash, US Depositary Shares, or a combination of both. Alibaba also expects to enter into bullish price cap trades with initial buyers to reduce the potential dilution of the stock when the notes are converted. The company's American depositary shares are listed on the New York Stock Exchange under the code name BABA.