Alibaba Group (NYSE:BABA) is reportedly planning to raise $5 billion through the issue of a range of dollar and offshore Chinese yuan bonds.
The Chinese e-commerce giant firmed up plans for a bond issue on Monday, with Reuters-cited sources adding this would aim to raise $5 billion.
Such an issue would mark the largest corporate bond deal across Asia of the year and be used by Alibaba for the likes of debt repayment and funding share repurchases.
Alibaba would offer 5.5, 10.5 and 30-year bonds through the dollar tranche, Reuters reported, alongside a three-and-a-half, five, 10 and 20-year offshore yuan tranche.
Alibaba is yet to confirm the size of the offering, alongside the rates and maturity dates on the bonds.
US-listed shares climbed 0.3% on Monday.