BABA-W (09988) is planning to issue unsecured preferred notes.

BABA-W (09988) announced today that the group intends to simultaneously issue US dollar-denominated senior unsecured notes (USD Notes) and Renminbi-denominated senior unsecured notes (RMB Notes, collectively referred to as the Notes), with the issuance of the Notes subject to market and other conditions. The issuance of the USD Notes and RMB Notes are not interdependent. The principal amount, interest rate, maturity date, and other terms of the Notes will be determined at the time of issuance. The group intends to use the net proceeds from the issuance of the Notes for general corporate purposes, including repayment of overseas debt and share repurchases.