Alibaba in Talks to Refinance $6.5 Billion Loan Amid Cloud and AI Push
Alibaba Group Holding Ltd. is negotiating with banks to refinance a $6.5 billion loan due next year, according to people familiar with the matter.
The company is offering existing lenders a pricing of below 80 basis points over the Secured Overnight Financing Rate for a five-year revolving credit facility, the sources said, requesting anonymity due to the private nature of the discussions. Talks are ongoing, and financing terms could still change.
Alibaba is investing heavily in its cloud division and large language models as it seeks to diversify revenue beyond its core e-commerce business, Bloomberg News reported. The company recorded revenue growth of 7% in the March quarter and is scheduled to report earnings on Friday.
Alibaba did not immediately respond to a request for comment.
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