Report: Around 22 Banks Are Lined Up To Give Alibaba An $8 Billion Loan
Alibaba Group Holding is getting ready to go public and banks are lining up to provide them with an $8 billion loan. The number of lenders that are ready to provide the company with a loan is now at 22, according to sources with The Wall Street Journal. Generally the number of lenders are at around 10 for loans that are above $5 billion. The 22 count just means that there is a high interest in the company’s IPO. Alibaba is expected to raise tens of billions in the IPO.