Alibaba prices $5 billion dual currency bond deal

The company priced an offering of $2.65 billion aggregate principal amount of U.S. dollar-denominated notes and RMB 17 billion ($2.35 billion) worth of offshore yuan-denominated notes. The report said Alibaba was also working on 3-1/2-year, 5-year, 10-year and 20-year offshore yuan tranche. Alibaba intends to use the net proceeds from the offering of the notes for general corporate purposes, including repayment of offshore debt and share repurchases.