Alibaba Group plans to raise at least US$5 billion by issuing US dollar-denominated bonds this month.

Alibaba’s bond issuance proceeds may reach 8 billion U.S. dollars, depending on how investors react. Ali is likely to use bond issuance proceeds for general corporate expenses. People familiar with the matter said that the bond issuance plan, including the timetable, has not yet been finalized and may change.