SoftBank Opens Order Books for $10 Billion Bond Sale to Fund OpenAI Stake
Deep News
Sep 23
SoftBank Group is currently accepting investor orders for a $10 billion bond issuance aimed at financing its investment in OpenAI, according to a term sheet.
The Japanese conglomerate plans to raise $1 billion through 3.5-year bonds, $4.5 billion through 5.5-year bonds, and another $4.5 billion via 7.5-year bonds, the term sheet revealed.
Prospective investors have been guided on pricing, with the 3.5-year tranche carrying an indicative coupon range of 8.75% to 8.875%, the 5.5-year notes at 9.375% to 9.5%, and the 7.5-year bonds at 9.75% to 9.875%, according to the document.
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