News

According to informed sources, Alibaba Group Holding Limited is negotiating with banks to refinance a $6.5 billion loan maturing next year. The sources said the company is offering existing lenders a five-year revolving credit facility priced 80 basis points below the secured overnight financing rate, but due to the confidential nature of the discussions, they requested anonymity. Negotiations are still ongoing, and financing terms may change. Reports indicate that Alibaba is heavily investing in its cloud division and large language models to seek revenue diversification beyond its core e-commerce business. The company recorded a 7% revenue growth in the March quarter and plans to announce earnings on Friday. Alibaba did not immediately respond to requests for comment