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Alibaba Group is seeking up to $4 billion in debt financing, sources said on Thursday, in a deal expected to help the Chinese e-commerce giant buy back a 40 percent stake in the company owned by Yahoo Inc.
As Alibaba Group is private, there is no public figure on what Yahoo's stake is worth, though some analysts say its worth at least $9 billion.
Sources close to the matter said Rothschild, which is acting as debt adviser to Alibaba, had sent out term sheets to banks requesting underwritten proposals for the debt financing. The tenor of the debt is expected to be up to three years. Reuters was unable to obtain a copy of the term sheets.