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SoftBank plans record $6.3 billion retail bond sale in Japan
- SoftBank Group plans a record 1 trillion yen retail bond sale in Japan to fund OpenAI investment commitments, with 7-year bonds expected to be priced on Sept. 4.
- The company has committed more than $60 billion to investments in the ChatGPT developer, recently cutting its fundraising target for a margin loan backed by its OpenAI stake to about $6 billion from $10 billion.
- Banks are reluctant to take on the risk due to weak deposit growth and the 7-year duration, leaving the deal dependent on retail investors, according to Yuuki Fukumoto of NLI Research Institute.
- S&P Global Ratings revised SoftBank's outlook to stable from negative in July, though it maintains a BB+ rating; this is the firm's third retail bond sale this year.
- A shortfall above $20 billion remains after this issue, according to Bloomberg Intelligence's Sharon Chen, while global tech giants have committed nearly $2.4 trillion to AI-related spending.
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SoftBank plans $6.3 billion retail bond sale in Japan next month, moves to raise funds for OpenAI commitments
SoftBank Group is planning a record $6.3 billion retail bond sale next month, the biggest by any issuer in Japan, in order to raise funds to fulfil its investment commitments to OpenAI, Bloomberg reported.
·New Delhi, India
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(Seoul = Yonhap News) Reporter Joo Jong-guk = Japan's SoftBank Group, led by Chairman Masayoshi Son, plans to issue bonds worth 1 trillion yen (approximately 8.7 trillion won) to retail investors...
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources19
Leaning Left1Leaning Right5Center4Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
C 40%
R 50%
Factuality
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