Alibaba Group Holding Ltd.’s $3 billion loan has attracted a commitment of at least $100 million from Chinatrust Commercial Bank as funds raised in senior syndication total about $2 billion, said three people with knowledge of the matter.
Alibaba, with enough commitments to avoid further syndication, expects to complete the facility by the end of the month, the people said, asking not to be identified because the details are private.
Australia & New Zealand Banking Group Ltd., Credit Suisse Group AG, DBS Bank Ltd., Deutsche Bank AG, HSBC Holdings Plc, and Mizuho Corporate Bank Ltd. have already signed and underwritten the facility, the people said.
Taipei Fubon Commercial Bank Co. committed $130 million to the loan this week, while Barclays Plc and Morgan Stanley committed $300 million each to the facility earlier this month, said another person familiar with the matter yesterday. Bank of East Asia Ltd., Natixis and Taishin International Bank also joined the loan earlier this month, that person said.
The deadline for banks to respond with commitments is April 30, the people said. John Spelich, a Hong Kong-based spokesman for Alibaba, 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 Alibaba.com Ltd., according to a Feb. 21 regulatory filing.
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