SoftBank raises $11.1 billion through bonds amid AI investment push

Tokyo [Japan], September 24: SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its continued investment in artificial intelligence.
An offering document showed on Thursday that the group issued $1 billion of 3.5-year senior dollar notes, $4.5 billion of 5.5-year notes and $4.5 billion of 7.5-year notes, with yields of 8.625%, 9.25% and 9.75%, respectively.
SoftBank also issued two €500 million tranches with maturities of four and six years, yielding 7.125% and 8%, respectively.
The group plans to use the proceeds to help finance the final $10 billion tranche of its $30 billion follow-on investment in OpenAI, the developer of ChatGPT. Upon completion, SoftBank's cumulative investment in OpenAI is expected to reach $64.6 billion.
Source: Emirates News Agency