Alibaba to raise $1.53 billion with exchangeable bonds for cloud and commerce expansion

Alibaba Group plans to raise $1.53 billion through exchangeable bonds to boost cloud infrastructure and global commerce. Investors can exchange bonds for shares in Alibaba Health, where Alibaba holds a 64% stake. This follows a $5 billion bond sale in November, as Alibaba accelerates investments in AI and cloud services globally.

The bond offering reflects investor interest in Asian credit markets. Chinese tech firms like Baidu have used exchangeable bonds to reduce holdings. Alibaba expects its Health unit to remain a flagship platform. Miniso, a budget retailer, completed a $550 million convertible bond deal in January, opting for its Hong Kong-listed shares over U.S.-traded ADRs.

Read more at Yahoo Finance: Alibaba plans to raise $1.53 billion with exchangeable bonds for cloud, commerce push