The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Alibaba Group Holding Ltd may get its cheapest dollar-denominated syndicated loan ever as it negotiates with banks to amend terms of its existing $4 billion borrowing. The Chinese Internet giant wants to cut the interest margin of the facility that it signed in May 2016 by 25 basis points to 85 basis points over Libor, said people familiar with the matter.
That would be the cheapest rate ever for Alibaba, Bloomberg-compiled data show. It’s also the lowest margin among outstanding loans of local peers Tencent Holdings Ltd and Baidu Inc, according to the data.
Alibaba declined to comment in an emailed statement.