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Alibaba Seeks $1.5 Billion From Bonds Exchangeable to Ali Health

Alibaba Seeks $1.5 Billion From Bonds Exchangeable to Ali Health

Bloomberg2 days ago
Alibaba Group Holding Ltd. is seeking to raise HK$12 billion ($1.5 billion) from the sale of bonds exchangeable into shares of Alibaba Health Information Technology Ltd.
The bonds, which are due in 2032, will carry a zero coupon and have an exchange premium of 40% to 50% over the reference share price, according to terms of the deal seen by Bloomberg News. The reference price will be determined by a concurrent delta placement to facilitate investors' hedging.
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