Ant Financial Said Raising Under $3 Billion of Debt For Deals

Ant Financial, the parent of China’s largest online payment service, is seeking to raise less than $3 billion by issuing debt to fund its acquisitions, people familiar with the matter said. Ant Financial is raising the money to partly finance its $880 million purchase of MoneyGram International Inc. and other acquisitions, the people said, requesting not to be named because the matter is private.