Another 7 banks join Alibaba’s $3b loan

Lenders keen to build relationships with e-commerce giant Alibaba extend favourable terms in rare covenant-lite revolving facility.

Another 7 banks join Alibaba’s $3b loan

Seven more banks -- BNP Paribas, Credit Suisse, DBS, Goldman Sachs, HSBC, ING and Mizuho -- have joined Chinese e-commerce giant Alibaba's $3 billion five-year revolving facility.

Citi, Deutsche Bank, JP Morgan and Morgan Stanley had underwritten the $3 billion facility prior to the company's record-breaking $25 billion flotation in New York in September. These four banks were also bookrunners for Alibaba's IPO alongside Credit Suisse and Goldman Sachs.

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