SoftBank issues $11.1 billion in bonds in OpenAI financing push
TOKYO, Sept 24 : Technology investor SoftBank Group has issued a total of $11.1 billion in dollar- and euro-denominated bonds, a filing showed on Thursday, as it looks to generate cash to continue its investments in artificial intelligence.
SoftBank issued dollar-denominated senior notes of $1 billion at a 3-1/2-year term, $4.5 billion at 5-1/2 years and $4.5 billion at 7-1/2 years, the filing showed. The bonds pay interest rates of 8.625 per cent, 9.25 per cent and 9.75 per cent respectively.
The bonds will be used to fund the final $10-billion tranche of $30 billion SoftBank committed to investing in ChatGPT-maker OpenAI, taking its total investment to $64.6 billion when complete.
This month it issued 1 trillion yen ($6.32 billion) in corporate bonds aimed at retail investors.
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Get our pick of top stories and thought-provoking articles in your inbox
Stay updated with notifications for breaking news and our best stories
Join our channel for the top reads for the day on your preferred chat app