Alibaba (BABA) announced a proposed exchangeable bond offering by reference to the ordinary shares of Alibaba Health Information Technology Limited that are listed on The Stock Exchange of Hong Kong Limited. Subject to market and other conditions, the Company proposes to issue approximately HK$12 billion aggregate principal amount of Zero Coupon Exchangeable Bonds due 2032. Alibaba Group intends to use the net proceeds from the Bond Offering for general corporate purposes, including investments to support the development of our cloud infrastructure and international commerce businesses.
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