TOKYO – SoftBank Group Corp announced on Thursday that it wants to raise US$7.35 billion this month through the issuance of US dollar and euro-denominated bonds, the Japanese conglomerate’s first international bond offering in three years. SoftBank intends to offer US$3.85 billion in dollar bonds with maturities ranging from 3.5 to 10 years, as well as 2.95 billion euros (US$3.5 billion) in euro bonds with a similar term.
The business said the proceeds from the current bond sale would be used to repay debt and for general corporate reasons, after increasing its capital commitment to the second Vision Fund to US$40 billion.
S&P Global Ratings assigned the bonds a BB-plus junk grade.
(1 US dollar = 0.8438 euros)
(Sam Nussey contributed reporting, and Sherry Jacob-Phillips edited the piece.)
Reuters is the source of this information./n
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