SoftBank to raise $7.35 billion in offshore bond sale
10:33 pm Wednesday, June 30th, 2021
TOKYO (Reuters) – SoftBank Group Corp said on Thursday it plans to raise $7.35 billion this month by selling U.S. dollar- and euro-denominated bonds, the Japanese conglomerate’s first such foreign bond sale in three years.
SoftBank plans to sell dollar bonds worth $3.85 billion with maturities ranging from 3.5 years to 10 years, and euro bonds worth 2.95 billion euros ($3.5 billion) with a similar duration.
The group, which hiked its capital commitment to the second Vision Fund to $40 billion, said proceeds from the latest bond issuance would be used to repay debt and general corporate purposes.
The bonds were given a BB-plus junk rating by S&P Global Ratings.
($1 = 0.8438 euros)
(Reporting by Sam Nussey, Editing by Sherry Jacob-Phillips)
