Alibaba to raise USD 3.2 billion via bond sale

Alibaba aims to raise USD 3.2 billion through a zero-coupon convertible bond, the largest such deal this year, Dealogic data showed. About 80% of the proceeds will go toward expanding data centers and cloud services, with the remainder for e-commerce growth. The bond, due in 2032, carries a 27.5–32.5% conversion premium over Alibaba’s US-listed stock.