China's Alibaba Group Holding has signed $3 billion financing deal spanning five years, mainly to fund its acquisitions within the country and abroad.
China's largest online market place has been diversifying beyond its core e-commerce base, making footprint in sectors like online videos.
The company's capital expenditure in the last three months of 2015 was 4.9 billion yuan ($752 million), more than triple the level in the same period in 2014, Reuters reported.
The Jack Ma-founded company said in a filing with the US Securities and Exchange Commission (SEC) that it secured the syndicated loan with a group of eight lead arrangers.
"The loan, which is subject to upsize through oversubscriptions in syndication, has a five-year bullet maturity and is priced at 110 basis points over LIBOR," Alibaba said in the filing.
Bloomberg reported, citing people familiar with the matter, the lenders were Australia & New Zealand Banking Group Ltd., Citigroup Inc., Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., Mizuho Financial Group Inc. and Morgan Stanley.
