BABA-W (09988) announced that the company completed the issuance on September 16, 2025 of zero-coupon convertible senior notes due 2032 with an aggregate principal amount of approximately $3.2 billion. The notes were issued to certain non-US persons in offshore transactions pursuant to Regulation S under the US Securities Act. Alibaba Group plans to use the net proceeds from the notes issuance for general corporate purposes, with a strategic focus on enhancing its cloud infrastructure capabilities and international commercial business operations.