Thank you for sharing!

Your article was successfully shared with the contacts you provided.
With the equity market in the doldrums and interest rates at historic lows, even former tech market darling Yahoo! Inc. is selling debt. On April 9, the Sunnyvale, California-based Internet media company raised $750 million by selling zero coupon senior convertible notes due in 2008. Credit Suisse First Boston Corporation was the initial purchaser of the privately placed notes, which bear no interest. The notes’ attraction for investors is their convertibility. Noteholders will be able to convert their paper to Yahoo! common stock at a price of $41 a share. That means they’re betting Yahoo stock will have a good five-year run, since the conversion price represents a 79 percent premium over $22.87, the closing price of Yahoo! common on April 9, when the offering was issued. For issuer Yahoo! Inc. (Sunnyvale, California) In-house: Deputy general counsel Michael Callahan, senior corporate counsel and assistant secretary Mindy Heppberger, and senior corporate counsel Paul Huie. Skadden, Arps, Slate, Meagher & Flom (New York): Corporate: Thomas Ivey, Kenton King, and associates Rukaiyah Adams, Linda Funasaki, Leif King, Nadine Stocklin, and William Torrey. Intellectual property: Ronald Laurie and associate Gene Su. Tax: Moshe Kushman and associate Sandra Strassner. (All are in the firm’s Palo Alto office, except Kushman and Strassner, who are in Los Angeles.) For initial purchaser Credit Suisse First Boston Corporation (New York) In-house: Vice president Pamela Guardo. Davis Polk & Wardwell (New York): Corporate: Alan Denenberg and associates Afra Afsharipour, Kevin Greenslade, and Martin Wellington. Tax: Dana Trier and associate Rachel Kleinberg. (The corporate team is in the firm’s Palo Alto office; the tax lawyers are in New York.) CSFB is a longtime client of Davis Polk’s.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.