Alibaba signs deal for $3bn five-year loan

Alibaba Group Holding announced on Thursday it had signed a deal for a five-year loan of US$3 billion for “general corporate purposes”, Reuters reported, citing a filing to the US Securities and Exchange Commission. The filing said Alibaba had signed a syndicated loan deal with a group of eight lead arrangers. The US-listed firm has been on a spending spree in recent months, as its capital expenditure in the last three months of 2015 was RMB4.9 billion yuan (US$752 million), more than triple the level for the same period in 2014.