Alibaba issues price guidance for 5-tranche, benchmark dollar bond

November 29, 2017 2:26 AM

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HONG KONG, Nov 29 (Reuters) - Chinese internet giant Alibaba Group Holding Ltd on Wednesday issued pricing guidance for a multi-tranche benchmark dollar bond, which is expected to price during New York hours, according to a term sheet seen by Reuters.

The tranches are for 5.5-, 10-, 20-, 30- and 40-year maturities with price guidance indicated at around 100, 125-130, 140, 160 and 180 basis points over U.S. Treasuries, respectively.

Morgan Stanley, Citigroup, Credit Suisse , Goldman Sachs and JPMorgan are the bookrunners for the bond, which is rated A1/A+/A+ (Moody's/S&P/Fitch), the same ratings as the issuer.

A benchmark-sized deal for an investment grade issuer means the transaction will raise at least $1 billion.

Source: dailymail.co.uk

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