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Alibaba Issues Record $4.5 Billion Convertibles to Fund Buybacks

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May 23, 2024, 11:41 p.m. | Amy Or, Filipe Pacheco, Sarah Zheng

Bloomberg Technology bloomberg.com

Alibaba Group Holding Ltd. sold $4.5 billion worth of convertible bonds, a record dollar-denominated sale by an Asian company, securing capital needed to buy back shares and invest in businesses including artificial intelligence.

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