Alibaba plans to issue up to $ 5 billion in bonds

The signage for Alibaba Group Holding Ltd. covers the facade of the New York Stock Exchange on November 11, 2015.

Brendan McDermid | Reuters

Alibaba will currently take advantage of the low interest rate environment in the US by issuing the bonds.

The company said the proceeds will be used for general corporate purposes, including working capital needs, paying off offshore debt, and potential acquisitions or investments in complementary companies.

With the proceeds for environmentally friendly projects such as renewable energies, so-called “sustainability notes” are also issued, according to the company.

Citigroup, Credit Suisse, Morgan Stanley, JP Morgan and CICC are the underwriters for the deal.

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