Supply chain-based technology and service provider JD.com, Inc. (Nasdaq:JD) has entered into a five-year $2 billion unsecured term and revolving loan facility with five lead arrangers.
This marks the company’s first green loan facility. The term and revolving loans under this facility are priced at 85 basis points over LIBOR. However, the loan facility remains subject to the final registration with the applicable regulatory authority in China
JD.com seeks to use the proceeds from this loan facility to finance or refinance one or more of its new or existing eligible green projects. The proceeds may also be used for general corporate purposes.
Stock Rating
Recently, Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on JD.com with a price target of $110 (upside potential of 67% from current level).
Devitt is of the opinion that no fundamental business impact is expected on the ownership change and that JD.com’s business is “performing very well”.
Overall, the Street has a bullish outlook on the stock with a Strong Buy consensus rating based on 13 Buys and 1 Hold. The JD.com price target of $108.29 implies upside potential of about 64.4% from current levels.
Increased Hedge Fund Trading
TipRanks’ Hedge Fund Trading Activity tool shows that confidence in JD.com is currently Very Positive, as the cumulative change in holdings across all 17 hedge funds that were active in the last quarter saw an increase of 15.2 million shares.
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