Yahoo pays a high price to refinance $1.6 billion in leveraged buyout debt
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The company issued $900 million in junk bonds maturing in 2031, with a yield of 11%; it also raised $700 million in Class B term loans, with an interest rate 6.5 percentage points higher than the U.S. benchmark rate. This transaction will be used to repay the loan raised in 2021 to support Apollo's acquisition of the company from Verizon Communications Inc., which was originally set to mature next year. (Bloomberg)
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