China’s Alibaba Group raises $5 billion in dual currency bond deal

Alibaba has raised $5 billion in a dual-currency bond, China’s biggest e-commerce company said on Wednesday, marking the largest deal of its kind in the Asia-Pacific this year.

The company priced an offering of aggregate principal amount of $2.65 billion in US dollar-denominated notes and 17 billion yuan ($2.35 billion) worth of offshore yuan-denominated bonds.