Alibaba completes exchange offer for senior unsecured notes

Alibaba Group Holding Limited announced the completion of its exchange offer for outstanding USD-denominated senior unsecured notes, originally issued in November 2024. The exchange offer, which commenced on September 4, 2025, involved three series of notes: 4.875% Senior Notes due 2030, 5.250% Senior Notes due 2035, and 5.625% Senior Notes due 2054.

The offer expired on October 2, 2025, with final tender procedures closing on October 7, 2025. The exchange agent's final count revealed high participation rates: $995,709,000, or 99.6%, of the 4.875% Senior Notes due 2030; $1,144,896,000, or 99.6%, of the 5.250% Senior Notes due 2035; and $496,025,000, or 99.2%, of the 5.625% Senior Notes due 2054 were tendered. The tendered notes have since been cancelled.

The exchange offer aimed to exchange previously unregistered notes for new, registered notes of equal principal amounts, with the new notes registered under the U.S. Securities Act of 1933. The U.S. Securities and Exchange Commission declared the registration statement effective on September 4, 2025.