China's Ant Financial in talks for loan of up to $3.5 billion at lower rate: Bloomberg

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS

Prices at the Pumps - May 8, 2024 #saltwire #pricesatthepumps #gasprices

Watch on YouTube: "Prices at the Pumps - May 8, 2024 #saltwire #pricesatthepumps #gasprices"

(Reuters) - Ant Financial, an affiliate of China's largest e-commerce company Alibaba Group , is in talks for a syndicated loan of up to $3.5 billion at a lower rate to slash debt costs, Bloomberg reported on Wednesday, citing unnamed sources.

The company is in discussion with lenders for a $2.5 billion financing that comes with a $1 billion greenshoe option, Bloomberg said.

The price talk for the three-year loan margin is less than 100 basis points over Libor, Bloomberg reported.

Ant Financial was not immediately available for a comment.

(Reporting by Ann Maria Shibu in Bengaluru; Editing by Aditya Soni)

It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home. Our 100 journalists strive to inform and improve our East Coast communities by delivering impartial, high-impact, local journalism that provokes thought and action. Please consider joining us in this mission by becoming a member of the SaltWire Network and helping to make our communities better.

Click here for information on becoming a member

Click here to download the SaltWire app