Jack Ma's Ant Financial Raising Under $3 Billion of Debt to Fund Deals: Sources
- Alipay’s parent said to raise funds mostly in form of debt
- Ant agreed to buy Moneygram for $880 million to expand in U.S
The mascot for Ant Financial Services Group stands on display at Alibaba Group Holding Ltd.'s annual November 11 Singles' Day online shopping event in Shenzhen, China, on Friday, Nov. 11, 2016. Alibaba broke its $14 billion Singles' Day sales record with room to spare, offering assurances about the strength of the Chinese consumer despite the nation's economic slowdown.
Photographer: Qilai Shen/BloombergAnt Financial, the parent of China’s largest online payment service, is seeking to raise less than $3 billion by issuing debt to fund its acquisitions, people familiar with the matter said.
Ant Financial is raising the money to partly finance its $880 million purchase of MoneyGram International Inc. and other acquisitions, the people said, requesting not to be named because the matter is private.