Yahoo! Sets Billion-Dollar Note Deal
November 20, 2013 at 4:03 AM (PT)
YAHOO! INC. will offer $1 billion aggregate principal amount of its convertible senior notes due 2018; it also intends to grant to the initial purchasers of the notes the right to purchase up to an additional $150 million aggregate principal amount of notes, exercisable within a 30-day period, solely to cover over-allotments.
The notes will be convertible into cash, shares of YAHOO’s common stock or a combination of cash and shares of common stock, at YAHOO’s election. Interest on the notes will be payable semi-annually in arrears on JUNE 1st and DECEMBER 1st of each year, beginning on JUNE 1st, 2014.
The notes will mature on DECEMBER 1st, 2018, unless earlier repurchased or converted in accordance with their terms.