Bank borrowings (Tables) - Bank borrowings

12 Months Ended

Mar. 31, 2017

Bank borrowings

Analysis of bank borrowings

	As of March 31
	2016			2017
	(in millions of RMB)
US$4.0 billion syndicated loan denominated in US$ (i)		—			27,346
Long-term borrowings (ii)		1,871			3,613
Short-term borrowings (iii)		4,304			5,948
		6,175			36,907
Less: current portion		(4,304	)		(5,948	)
Non-current portion		1,871			30,959

(i)	During the year ended March 31, 2017, the Company completed the drawdown of a five-year US$4.0 billion syndicated loan, which was entered into with a group of eight lead arrangers. The loan has a five-year bullet maturity and is priced at 110 basis points over LIBOR. The related floating interest payments are hedged by certain interest rate swap contracts entered into by the Company. The proceeds of the loan were used for general corporate and working capital purposes (including acquisitions).
(ii)	As of March 31, 2016 and 2017, the Company had long-term borrowings from banks with weighted average interest rates of approximately 4.9% and 4.6%, respectively. Other loans are collateralized by a pledge of certain land use rights, buildings and leasehold improvements, bank deposits and construction in progress in the PRC with carrying values of RMB3,583 million and RMB6,680 million as of March 31, 2016 and 2017, respectively. Such borrowings are all denominated in RMB.
(iii)	As of March 31, 2016 and 2017, the Company had short-term borrowings from banks which were repayable within one year or on demand and charged at interest rates ranging from 4.0% to 7.1% and 1.7% to 4.8% per annum, respectively. Such borrowings are denominated in RMB or US$.

Schedule of borrowings under the credit facilities are due

As of March 31, 2017, the borrowings will be due according to the following schedule:

	Principal amounts
	(in millions of RMB)
Within 1 year		5,948
Between 1 to 2 years		1,229
Between 2 to 3 years		1,459
Between 3 to 4 years		254
Between 4 to 5 years		27,350
Beyond 5 years		667
		36,907