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Yahoo has reportedly increased its share repurchase authorization by $5 billion and has planned to offer $1 billion in convertible notes.
The search engine has aggressively repurchased its common stock using cash obtained from selling a portion of its stake in China's e-commerce giant Alibaba Group.
According to Fox News, shares of Yahoo increased 1.6% to $35.17 on Tuesday following the announcement.
Yahoo spent $3.1 billion on share buybacks in the first nine months of 2013.
The report said that the share buybacks have helped boost Yahoo's shares roughly 74% this year.
The company said that the convertible notes will be due in 2018, with interest payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2014.
Yahoo also intends to grant the initial purchasers of the notes the right to buy an additional $150 million notes, the report added.
