Yahoo Raises $1.6 Billion in Debt at Elevated Yields to Replace Apollo-Era Loans
Yahoo Inc. closed a combined $1.6 billion financing package made up of a $700 million term loan B and $900 million of high-yield bonds, both priced at yields well above prevailing risky-debt benchmarks. Proceeds will be used to repay loans tied to Apollo Global Management’s 2021 acquisition of Yahoo from Verizon, which were due to mature next year.