Alibaba plans to issue approximately HK$12 billion zero-interest exchangeable Bonds

Alibaba announced on the Hong Kong Stock Exchange that it intends to issue approximately HK$12 billion zero-interest exchangeable Bonds. Once the Bonds are issued, the Bonds will constitute an unsecured and non-subordinated debt of Alibaba Group. Bonds do not accrue regular interest. The Bonds will expire on July 9, 2032, unless pre-redeemed, repurchased or exchanged prior to that date in accordance with the terms of the Bonds. Alibaba Group plans to use the net capital raised by issuing Bonds for general corporate purposes, including investments to support the company’s cloud infrastructure and international commercial business development.