Alibaba considers issuing first US bond sale

Alibaba will meet with investors next week as it considers issuing its first US bond sale.

The Chinese e-commerce giant has hired Morgan Stanley, Citigroup, Deutsche Bank and JP Morgan to manage the sale.

Alibaba would offer dollar-denominated notes to institutional investors, the company said in a statement.

Reports suggest that Alibaba would sell $8 billion in bonds after its record public listing just two months ago.

News of Alibaba’s bond sale comes after it made $9 billion in sales on Singles’ Day in China this week, which is considered the world’s biggest online sales day.

In September, the company’s initial public offering in New York was the biggest in the world, raising $25 billion and its stock is up nearly 70% since then.

Alibaba will hold meetings next week in Boston, New York, Hong Kong, London and Singapore.

Moody’s has given the proposed bond an A1 credit rating.