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Alibaba sells $8bn of bonds in record breaking debt market debut

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Chinese ecommerce giant Alibaba has raised $8bn (£5.1bn) in its first approach to the bond markets to raise capital.

The bond issue was hugely oversubscribed, with $57bn worth of orders from investors.

Alibaba sold equal $2.25bn offers of five- and 10-year notes, according to Bloomberg. The 2.5 per cent 5-year notes sold at a yield of 95 basis points above similar-maturity treasuries, and the 3.6 per cent 10-year securities sold at a relative yield of 128 basis points.

The firm made history in September with its $25bn IPO, the largest ever float.

Alibaba said in a statement last week it plans to use the proceeds of its bond sale to refinance several credit facilities.

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