Workflow
Alibaba to raise $3.2 billion via convertible bond to fund cloud growth
Yahoo Finance·2025-09-11 08:06

By Scott Murdoch and Casey Hall (Reuters) - Chinese e-commerce leader Alibaba said on Thursday it plans to raise 3.2billionthroughthesaleofazerocouponconvertiblebondtofundinternationalexpansionandstrengthencloudcomputing.Thebondwillbethelargestofitskindthisyear,showedDealogicdata,eclipsingDoorDashs3.2 billion through the sale of a zero-coupon convertible bond to fund international expansion and strengthen cloud computing. The bond will be the largest of its kind this year, showed Dealogic data, eclipsing DoorDash's 2.75 billion deal in May. Alibaba said it would use nearly 80% of the proceeds to expand data centres, upgrade technology and improve services to meet demand for cloud sol ...