Goldman said to join Alibaba loan team as IPO nears

Reuters 03 June 2013
(Reuters) – Goldman Sachs has joined Alibaba Group’s $8 billion loan with $500 million in financing as the Chinese e-commerce giant prepares for a massive initial public offering expected to come as early as the fourth quarter of this year.
Goldman has joined as mandated lead arranger and bookrunner on the three-tranche loan, which has a June 7 deadline, Thomson Reuters publication Basis Point reported on Monday, citing an anonymous source.
The Alibaba IPO is expected to rival Facebook Inc’s $16 billion offer last year, and would yield banks tens of millions of dollars in underwriting revenues.
Alibaba has yet to select an underwriting team. A financial industry source with direct knowledge of the matter said the company was likely to favor banks that have extended it loans.
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