Simpson Thacher & Bartlett and Sullivan & Cromwell took the lead roles on Alibaba Group Holding Ltd.’s $8 billion bond sale, the largest ever dollar-denominated corporate bond offer in Asia.
The Chinese e-commerce giant, which listed on the New York Stock Exchange after a record $25 billion initial public offering in September, sold six tranches of bonds with various maturities: $2.5 billion in five-year bonds, $2.5 billion in 10-year notes, $1.5 billion in seven-year securities, $1 billion in three-year debt, $700 million in 20-year bonds and $300 million in three-year note. Alibaba said in a regulatory filing that proceeds will be used to refinance existing debt.
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