Alibaba May Get $1 Billion Loan For Yahoo Buyback

Date : 07/10/2012 @ 3:20AM
Source : Dow Jones News
Stock : Yahoo! Inc. (MM) (YHOO)
Quote : 50.65  0.47 (0.94%) @ 8:00PM

Alibaba May Get $1 Billion Loan For Yahoo Buyback

Yahoo! Inc. (MM) (NASDAQ:YHOO)
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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

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