Alibaba nets $3.5bn from 13, closing this week

Alibaba Group’s jumbo $8bn loan will wrap up this week after attracting more than $3.5bn of commitments from 13 banks during senior syndication. ING is the latest lender to have joined, with a $380m commitment. Bank of China is in the final stages of credit approval, said a banker close to the deal.

  • By Rashmi Kumar
  • 28 Jun 2013

The loan will close once the Chinese bank’s commitment is approved, added the banker.

Société Générale, Bank of Taiwan and Ping An Bank also came on board this week, with pledges of $300m, $200m and $200m, respectively. Their commitments followed the previous week’s commitment from BNP Paribas, which ...

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