Alibaba Group Holding Ltd. will sign a $1 billion, four-year term loan with about seven banks on a club basis to fund a 20% stake buyback from Yahoo! Inc. (YHOO), Bloomberg News reported Tuesday, citing an unnamed source.
Separately, China Development Bank Corp. will provide a $1 billion four-year loan, the report said.
The report didn't say if Alibaba, Yahoo or the underwriting banks were sought for comment.
Full story: http://www.bloomberg.com/news/2012-07-09/alibaba-said-to-get-1-billion-club-loan-for-yahoo-stake-buyback.html