Alibaba aims to raise $5 billion in dual currency bond deal, sources say

Chinese ecommerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond, a term sheet seen by Reuters showed. Alibaba is also working on a 3.5-year, 5-year, 10-year and 20-year offshore yuan tranche, according to the term sheet.