Alibaba $3bn revolver limited syndication completed

By Shruti Chaturvedi
06 Nov 2014

E-commerce firm Alibaba Group, which signed a $3bn revolving facility with four lenders on August 30, has completed a limited syndication of the financing. The facility features looser covenants than its last loan and marked the first US style revolver in Asia, said a banker on the deal.

Citi, Deutsche Bank, JP Morgan and Morgan Stanley led the syndication of the five year loan. Details on the pricing and the banks who joined were not disclosed.

It was the first time a revolving credit facility had been completed with such loose covenants in Asia, more akin ...

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