The loan is for the purpose of refinancing existing debts as well as raising additional funds. Moreover, the nine cooperating banks have offered money in the hope of playing a part in Alibaba’s IPO. Broken down, the loan is comprised of one USD2.5bn three-year loan, one USD4bn five-year loan and one USD1.5bn three-year revolving credit facility.
As a result, the nine participating banks are: Credit Suisse Group, Citigroup, Deutsche Bank, DBS Group Holdings, JPMorgan Chase, Morgan Stanley, Australia &New Zealand Banking Group, HSBC Holdings and Mizuho Corporate Bank.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.