HONG KONG Dec 8 Alibaba Group
is seeking up to $4 billion in debt financing, sources familiar
with the matter said on Thursday, in a deal expected to help the
Chinese e-commerce giant buy back a 40 percent stake in the
company owned by Yahoo Inc.
Sources close to the situation said Rothschild,
which is acting as debt adviser to Alibaba, had sent out term
sheets to banks requesting underwritten proposals for the debt
financing. The tenor of the debt expected to be up to three
years. Reuters was unable to obtain a copy of the term sheets.
Alibaba Group, founded by entrepreneur and former English
teacher Jack Ma, declined to comment. Alibaba, as a parent
company, holds a 73.12 percent stake in Hong Kong listed
A Rothschild representative was not immediately available