04:36 AM EDT, 05/30/2024 (MT Newswires) -- Alibaba Group Holding ( BABA ) said Wednesday that it completed its private offering of $5 billion of 0.50% convertible senior notes due 2031, including the exercise in full by the initial purchasers of their option to buy an additional $500 million of the notes.

The company said that in connection with the option exercise, it entered additional capped call transactions using $63.75 million of the net proceeds from the sale of the additional notes.

The initial conversion rate for the notes is 9.5202 American depository shares per $1,000 of the notes, which is equivalent to an initial conversion price of about $105.04 per ADS.

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