Signage for Alibaba Group Holding Ltd. covered the front of the New York Stock Exchange on November 11, 2015.
Brendan McDermid | Reuters
Alibaba will currently take advantage of low US interest rates by issuing the bonds.
The company said the proceeds will be used for general corporate purposes, including working capital needs, offshore debt repayment and potential acquisitions or investments in complementary businesses.
So-called “sustainability notes” will also be issued, with proceeds going to green projects such as renewable energy, the company said.
Citigroup, Credit Suisse, Morgan Stanley, J.P. Morgan and CICC are the underwriters for the deal.