HONG KONG Feb 9 Ant Financial Services Group,
the payment affiliate of Chinese e-commerce giant Alibaba Group
Holding Ltd, is in talks with banks to raise $2 billion
to $3 billion in debt, a person with direct knowledge of the
matter said on Thursday.
The world's largest financial technology firm plans to use
some part of the proceeds to fund its acquisition of U.S.
money-transfer company MoneyGram International Inc,
announced last month, said the person.
The new round of funding, if completed, could also be used
to boost its holding in other companies, including Indian mobile
e-commerce website Paytm, the person said, declining to be named
as the talks are not public yet.
"It is the market practice for a globalised company like Ant
Financial to raise debt in U.S. dollars," a representative of
Ant Financial told Reuters, when contacted for comment on
technology news website The Information's report the company was
looking to raise more than $3 billion in debt.
(Reporting by Sumeet Chatterjee; Editing by Himani Sarkar)