Alibaba (always sounds like Babawawa to me) plans to issue $4.5 billion in convertible bonds, yielding 0.5%, convertible to shares at a price that is currently about 30% premium to present trading price ($105.04 per share compared to a recent close of $80.80.) The money will be used to buy back American Depository shares (interesting). So if you like the company but are nervous about investing in a Chinese company, these bonds might give you some safety net security. Bonds are rated A+ by Fitch, mature in 7 years.