Feb. 22 (Bloomberg) -- Alibaba Group Holding Ltd. may seek more banks to underwrite a $3 billion loan signed yesterday with six lenders, according to two people familiar with the matter.
The loan will be split into a $2 billion short-term facility and a $1 billion, three-year term loan, one of the people said, asking not to be identified as details are private. Alibaba Group is offering to pay a margin on the term loan of 400 basis points to 450 basis points more than the London interbank offered rate, the person said.
China’s biggest e-commerce company may consider repaying the short-term loan using cash reserves, the people said.
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