Risk-Off 4.5% US Treasury Bond VS Risk-On 0.5% Alibaba CB?
Alibaba (BABA.US) recently issued convertible senior notes (“CN” or “CB”) for share repurchase through a private offering, totaling US$5 billion (equivalent to approximately HK$39 billion), carrying a remarkably low coupon rate of 0.5% and a maturing in 2031. Despite the low yield, the offering experienced significant oversubscription, indicating strong demand from qualified institutional investors. In […]
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