(Reuters) - Ant Financial, an affiliate of China’s largest e-commerce company Alibaba Group (BABA.N), 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