- SoftBank Group Corp. is seeking the equivalent of more than $11 billion in what would be one of the biggest junk bond deals ever, according to people familiar with the matter.
- The issuance comprises $10 billion of dollar securities across three tenors and €1 billion ($1.1 billion) of euro notes across two maturities.
- Proceeds will be used in part to fund a follow-on investment in OpenAI expected to close next month, with the deal potentially pricing on Thursday.
Quotes
“SoftBank Group Corp. is seeking the equivalent of more than $11 billion in what would be one of the biggest junk bond deals ever”
“The money will be used in part to fund a follow-on investment in OpenAI expected to close next month”