Markets
Alibaba’s US$7b bond sale attracts US$46b
Bloomberg | 01 Dec 2017 00:30
Alibaba earlier in November bought a slice of China’s largest hypermart chain Sun Art Retail Group Ltd for US$2.9 bil

ALIBABA Group Holding Ltd sold US$7 bil (RM28.7 bil) bonds on Nov 29 in a deal that investors clamoured for, ordering more than six times as many securities as were for sale.

The deal eclipsed China Evergrande Group’s US$6.6 bil offering in June to become the biggest sale in Asia from a non-bank issuer, according to data compiled by Bloomberg. Eager investors were already flipping the bonds in the aftermarket late Nov 29 in New York.

The offering’s 4.2% 30-year bond rose to 101.2 cents on the US dollar at 6.13 pm, up from an issue price of 99.8 cents.