Yahoo raises $1.6 billion to refinance Apollo acquisition debt

8 articles · Updated · Bloomberg · May 8

The package comprised a $700 million term loan B and $900 million of junk bonds due in 2031.
The loan priced at 97 cents on the dollar with interest 6.5 percentage points over the US benchmark, while the bonds yielded 11%.
The online media company offered investors one of the year's highest-yielding deals as it reworked debt linked to Apollo Global Management's takeover.

Is Yahoo’s high-yield debt a bet on its AI turnaround or a warning of its vulnerability to disruption?

How can Yahoo claim a $20B valuation while investors demand junk bond yields signaling massive underlying risk?