SoftBank Plans $10 Billion Loan Refinancing to Boost OpenAI Investment

Odaily News: SoftBank Group is seeking an additional $10 billion loan to refinance debt related to its investment in OpenAI and raise further capital. According to sources familiar with the matter, the loan has a two-year term with an interest rate approximately 275 basis points above the Secured Overnight Financing Rate (SOFR), with Mizuho Bank serving as lead arranger and bookrunner. The sources requested anonymity as the matter has not yet been made public. (Bloomberg)