TECH - Masayoshi Son's SoftBank To Raise $1.86B Through Bond Issuance For AI Investment And Debt Repayment | Benzinga
Japanese multinational conglomerate SoftBank Group Corp. (OTC:SFTBY) has announced its intention to issue bonds worth approximately $1.86 billion. The proceeds will be directed towards the repayment of existing debt and a strategic shift towards artificial intelligence (AI) investments.
What Happened: SoftBank plans to issue $900 million in U.S. dollar-denominated bonds and 900 million euros ($962.8 million) in euro-denominated bonds, both in two tranches, CNBC reported on Friday. The interest rates for these bonds will range from 5.4% to 7% per annum.
The funds raised will be used for “repayment of indebtedness and for general corporate purposes.”
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