NEW YORK (TheStreet) -- Alibaba (BABA) shares are down 2% to $115.84 in trading on Thursday after the Chinese online and mobile retail company announced that it is preparing to offer its first bond sale less than two months after its record breaking IPO in September.
The company has not yet finalized the principal amount, interest rate, maturity dates and other details related to the bond offering.
The company said that it plans to use the revenue generated from the offering to fund the refinancing of its current credit facilities.
Alibaba raised $25 billion in its initial public offering in September, the largest stock debut in history.
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