SoftBank Launches Massive Junk Bond Issuance to Fund AI Ambitions

Odaily News: SoftBank Group has launched what is set to become one of the largest corporate junk bond offerings in history, as the Japanese conglomerate turns to debt investors to finance its massive investments in artificial intelligence. As one of the world's largest AI investors, SoftBank has begun marketing the multi-part deal, with initial price guidance for the dollar-denominated portion underway. The group aims to raise more than $11 billion through this issuance, including a $10 billion dollar-denominated tranche and a €1 billion (approximately $1.1 billion) euro-denominated tranche.

This offering is the latest in a series of moves by SoftBank in the bond market this year, designed to help fund its nearly $65 billion commitment to OpenAI and to finance further M&A in the sector. (Jinshi)