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Alibaba trying to increase as much as $5 billion in U.S. greenback bond issuance after earnings beat

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Signage for Alibaba Group Holding Ltd. covers the entrance facade of the New York Inventory Trade November 11, 2015.

Brendan McDermid | Reuters

Alibaba can be benefiting from the low rate of interest surroundings within the U.S. proper now by issuing the bonds.

The corporate stated the proceeds can be used for normal company functions, together with working capital wants, reimbursement of offshore debt and potential acquisitions of, or investments in, complementary companies.

So-called “sustainability notes” may even be issued with the proceeds going towards inexperienced initiatives akin to renewable vitality, the corporate stated.

Citigroup, Credit score Suisse, Morgan Stanley, J.P. Morgan and CICC are the underwriters for the deal.