Alibaba seeks to extend $8 billion loan draw-down to end 2014

Alibaba Group Holding Ltd said on Wednesday it is seeking to extend the draw-down period of its $8 billion loan to the end of next year, a move that people familiar with the e-commerce firm’s plans said would buy it more time to launch an IPO. Alibaba wants to extend that to December 31, 2014, sources familiar with the discussions said. Alibaba said the funds will be used for corporate purposes.


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