Alibaba launches exchange offer for senior notes

Alibaba Group Holding Limited announced the commencement of an exchange offer for its outstanding senior notes. The company is offering to exchange up to $1,000m of its 4.875% senior notes due 2030, $1,150m of its 5.250% senior notes due 2035, and $500m of its 5.625% senior notes due 2054. These "Exchange Notes" have been registered under the U.S. Securities Act of 1933.

The exchange offer aims to provide registered notes for an equal principal amount of previously issued "Outstanding Notes" from November 2024, which were exempt from Securities Act registration. This initiative fulfills obligations under a registration rights agreement and does not represent new financing. Alibaba will not receive any proceeds from the exchange.

The exchange offer will expire at 5:00 p.m., New York City time, on October 2, 2025. The terms of the Exchange Notes are substantially identical to the Outstanding Notes, with the key difference being the removal of transfer restrictions and related provisions.