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Alibaba Stock Tumbles on Bond Tidings
- Alibaba Group completed a private offering of HK$12.023 billion Zero Coupon Exchangeable Bonds due 2032.
- The Bonds were sold to non-U.S. persons in offshore transactions outside the United States.
- The Bonds are unsecured, unsubordinated, and do not bear regular interest, maturing on July 9, 2032.
- Alibaba stock tumbled by 3.6% to $104.17 following this news.
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