Alibaba’s Jumbo Bond Deal Goes Quiet With Ma Out of Sight
- Prospectus for bond sale not yet received by would-be buyers
- Bond spreads tighten after U.S. decides against investment ban
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Investors are beginning to question whether Alibaba Group Holding Ltd. can pull off a jumbo dollar bond in coming weeks given the uncertainty around co-founder Jack Ma and the Trump administration’s crackdown on Chinese companies.
The potential sale of as much as $8 billion in offshore debt was planned for as early as this week, however a marketing memorandum hasn’t yet been received by prospective investors, according to people familiar with the matter, who asked not to be identified as they’re not authorized to speak publicly. A spokesperson for Alibaba had no immediate comment on the progress of the sale.