BABA-W (09988.HK)  +5.500 (+4.173%)    Short selling $3.74B; Ratio 18.607%   announced that it had commenced an exchange offer to exchange up to USD1 billion aggregate principal amount of its 4.875% Senior Notes due 2030, up to USD1.15 billion aggregate principal amount of its 5.25% Senior Notes due 2035, and up to USD500 million aggregate principal amount of its 5.625% Senior Notes due 2054, which have been registered under the US Securities Act of 1933, as amended, for equal principal amounts of its outstanding 4.875% Senior Notes due 2030, 5.25% Senior Notes due 2035, and 5.625% Senior Notes due 2054, which were issued in November 2024 in transactions exempt from registration under the Securities Act.

The exchange offer is being made to satisfy BABA-W's obligations under a registration rights agreement entered into on November 26, 2024, in connection with the placement of the outstanding notes, and doesn't represent a new financing transaction. The company will not receive any proceeds from the exchange offer.

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The terms of the exchange notes are substantially identical to the terms of the outstanding notes, except that the exchange notes will not contain terms with respect to transfer restrictions, registration rights and additional interest for failure to observe obligations in the registration rights agreement. The outstanding notes that are not exchanged in the exchange offer will continue to be subject to the existing transfer restrictions.

The exchange offer will expire at 5:00 pm, New York City time, on October 2, 2025, unless extended by BABA-W.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-09-08 16:25.)