BABA-W (09988) announces pricing of issuance of unsecured priority notes.

BABA-W (09988) announced that the group today announced the pricing of the following notes: (i) the issuance of a total principal amount of USD 2.65 billion in US dollar-denominated senior unsecured notes, including: USD 1 billion due in 2030, with an interest rate of 4.875% and an issuance price of 99.838% per note; USD 1.15 billion due in 2035, with an interest rate of 5.250% and an issuance price of 99.649% per note; and USD 500 million due in 2054, with an interest rate of 5.625% and an issuance price of 99.712% per note (collectively referred to as the USD notes); and (ii) the issuance of a total principal amount of RMB 17 billion in Chinese yuan-denominated senior unsecured notes, including: RMB 8.4 billion due in 2028, with an interest rate of 2.65% and an issuance price of 100% per note; RMB 5 billion due in 2029, with an interest rate of 2.80% and an issuance price of 100% per note; RMB 2.5 billion due in 2034, with an interest rate of 3.10% and an issuance price of 100% per note; and RMB 1.1 billion due in 2044, with an interest rate of 3.50% and an issuance price of 100% per note (collectively referred to as the RMB notes, together with the USD notes referred to as the notes). The issuance of USD notes is expected to be completed on November 26, 2024, and the issuance of RMB notes is expected to be completed on November 28, 2024, subject to customary closing conditions. The group intends to use the net proceeds from the issuance of the notes for general corporate purposes, including repayment of foreign debt and share repurchases.