Alibaba reportedly eyeing refinance of US$6.5b loan

Alibaba (9988) is in discussions with banks to refinance a US$6.5 billion (HK$50.7 billion) loan due next year, Bloomberg News reported, citing people familiar with the matter.

The e-commerce giant has proposed paying a margin of less than 80 basis points over the Secured Overnight Financing Rate to existing lenders willing to provide a new five-year revolving credit facility, the sources said.

Negotiations are ongoing, and financing details could still change, the report said.

STAFF REPORTER