Yahoo! sold $750 million in zero coupon convertible notes in a private placement the other day. They already have a lot of
cash, but I guess they couldn't pass up the opportunity to raise more money at zero interest. These notes are due in five years
and are convertible at $41, which seems like a pretty reasonable level to me... not a bad bet for the note holders assuming Yahoo! can continue to grow
earnings at a high rate.
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