Sources: Alibaba renews plan to raise $5b in dollar bond sale post-revenue gain

The Chinese internet titan is set to initiate a number of investor calls for the planned sale, which includes various maturities up to 40 years, one source said.

Early in January this year, it was reported that Alibaba was looking to secure up to US$8 billion in dollar bond sales, which would be done in a multi-tranche offering.

Then in a filing dated February 2, the company said that it plans to use the proceeds from the sustainability bonds to bankroll its eligible projects such as responding to Covid-19 and investing in renewable energy. It also plans to boost its working capital and repay offshore debt.

The ecommerce major did not include information such as the size of the deal and maturities, however.

The development comes after Alibaba has reported that it generated US$33.8 billion in the quarter ended December 31, 2020, a 37% increase from 161 billion yuan (US$24.9 billion) a year before. The gain was mainly driven by its Chinese commerce retail business, which raked in US$23 billion during the period.