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.

Alibaba aims to raise $5 billion through multi-currency bonds for corporate purposes, including debt repayment and share buybacks.

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,

The current dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond, a term sheet seen by Reuters showed. Alibaba is also working on a 3.5-year, 5-year, 10-year and 20-year