Alibaba's $38-billion bond sale shows confidence among Jack Ma fans

Alibaba Group Holding drew robust orders for a $5 billion bond sale, demonstrating investor confidence in the e-commerce giant’s long-term prospects amid easing tensions with Chinese regulators.
 
The four-tranche offer received more than $38 billion in orders at the peak, according to people with knowledge of the matter. The notes comprising 10-year, 20-year, 30-year and 40-year maturities were priced at 30 basis points to 40 basis points lower than initial guidance, as measured in yields above comparable Treasuries, said the people, who aren’t authorised to speak publicly.
 
The robust demand helped Alibaba secure relatively cheap borrowing costs. Comparable