JD.com in global bond debut

China's second-largest e-commerce platform JD.com Inc has made its global bond market debut, securing a relatively low borrowing cost when raising $1 billion in debt.

The company secured a Baa3 rating from Moody's and BBB-from Standard & Poor's, the lowest rating in the investment-grade category. The five-year $500 million tranche was sold at 3.125 percent and the 10-year $500 million tranche at 3.875 percent.

The investment-grade ratings to a loss-making company are due to expectation that its profitability, remaining weak at the moment, would improve in the upcoming months, due to its expanding product offering through direct sales and the marketplace, rating agencies said.