Summary by Moomoo AI
Alibaba Group Holding Limited announced the pricing of a private offering of US$4,500 million in 0.50% Convertible Senior Notes due 2031 on May 23, 2024. The offering, which is expected to close on May 29, 2024, includes an option for initial purchasers to buy an additional US$500 million in Notes. The net proceeds, estimated at approximately US$4,436 million (or US$4,930 million if the additional Notes are purchased), will be used for a concurrent repurchase of Alibaba's American depositary shares (ADSs) under its existing share repurchase program, future share repurchases, and to fund the cost of entering into capped call transactions. The Notes will be senior unsecured obligations, maturing on June 1, 2031, with interest payable semi-annually. Alibaba has also entered into capped call transactions to potentially...Show More