Chinese ecommerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter.

E-commerce giant Alibaba (NYSE:BABA) to offer U.S. dollar-denominated senior unsecured notes and RMB-denominated senior unsecured notes, subject to market and other conditions. The dual currency bond deal aims to raise ~$5 billion in multi-tranche dollar and offshore Chinese yuan bonds,