mohawkbingo| Alibaba plans to issue US$4.5 billion in convertible senior notes due in 2031

Alibaba announced on the Hong Kong Stock Exchange that it plans to privately issue convertible senior notes with a total principal amount of US$4.5 billion due in 2031.

The company expects to grant the initial purchaser of the notes the option to purchase additional notes up to a total principal amount of US$500 million, with the option to exercise within 13 days from the date of issuance of the notes,

The company plans to use the net proceeds from the issuance of the notes to:

While the note issue is being priced, certain Alibaba American Depositary Shares are repurchased under the existing share repurchase planmohawkbingo;

Funding further share repurchases from time to time under the company's existing share repurchase plan;

Funding the cost of entering into limit call trades.