SFTBY - SoftBank exploring lending directly to technology firms - report
2023-05-23 10:33:18 ET
SoftBank Group Corp. ( OTCPK:SFTBY ) ( OTCPK:SFTBF ) is exploring providing debt financing to technology firms in what would mark its first foray into the $1.5T private credit market, Bloomberg reported earlier this week, citing people with knowledge of the matter.
The move comes as the Japanese firm seemingly aims to fill the void after March's failure of Silicon Valley Bank, which had been a large provider of debt financing to startups.
Senior investors at SoftBank ( OTCPK:SFTBY ) have held discussions with market participants about directly lending to tech firms, and raised the possibility of deploying as much as $1B through SoftBank Investment Advisors, which manages two Visions Funds, the people told Bloomberg.
The talks are at an early stage, the article said , and may be subject to change. SoftBank ( OTCPK:SFTBY ) is looking to score low double-digit yields for the private credit strategy, roughly matching that of what most direct lending funds expect to rake in.
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SoftBank exploring lending directly to technology firms - report