04:18 AM EST, 11/18/2024 (MT Newswires) -- Alibaba Group ( BABA ) is planning to raise $5 billion through dollar and offshore yuan bonds, Reuters reported Monday, citing two unnamed sources with direct knowledge of the matter.

The current dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond. The company is also working on yuan bonds with a 3.5-year, 5-year, 10-year and 20-year span, the report said, citing a term sheet seen by Reuters.

The company will use the proceeds for corporate purposes, including debt repayment and share buybacks, according to the report.

Alibaba Group ( BABA ) did not immediately respond to MT Newswires' request for comment.

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