Bloomberg News

Alibaba Loan Said to Attract Commitments From Four Banks

April 16, 2012

Alibaba Group Holding Ltd (ALIBABZ).’s $3 billion loan to fund the privatization of its Hong Kong-listed unit has attracted commitments from at least four banks in senior syndication, said three people familiar with the matter.

Bank of East Asia Ltd. (23) pledged $200 million while a European bank pledged $300 million, the people said, declining to elaborate and asking not to be identified because the details are private. Morgan Stanley joined last week with a commitment of $300 million.

Salina Tong, a Hong Kong-based spokeswoman for Bank of East Asia, declined to immediately comment on the commitment when contacted by telephone today. John Spelich, a Hong Kong-based spokesman for Alibaba, also declined to comment on the financing.

Alibaba Group, run by billionaire Jack Ma, offered HK$13.50 ($1.74) a share for the 27 percent it doesn’t already own in Ltd. (1688), according to a Feb. 21 regulatory filing to the stock exchange. Australia & New Zealand Banking Group Ltd. (ANZ), Credit Suisse Group AG, DBS Bank Ltd., Deutsche Bank AG, HSBC Holdings Plc (HSBA) and Mizuho Corporate Bank Ltd. signed the loan to finance the planned deal, according to the filing.

To contact the reporter on this story: Wendy Mock in Hong Kong at

To contact the editor responsible for this story: Shelley Smith at

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