20 June 2019

Alibaba seeks to move back deadline on US$8 bln loans, HKEJ says

Alibaba Group wants to push back the deadline set for it to use US$8 billion of loans to the end of 2014, from the Jan. 30 date it earlier agreed on with creditors, the Hong Kong Economic Journal reported Wednesday. The e-commerce giant said it now has a large amount of cash and does not need to draw from the loan. Extension of the deadline will give the company more time to prepare for its planned initial public offering, Reuters news agency quoted an unnamed person with knowledge of the matter as saying.

– Contact HKEJ [email protected]




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