SoftBank Weighs $10B-$20B bond sale for OpenAI financing, Bloomberg News reports

SoftBank is discussing a potential $10B-$20B dollar/euro bond offering as early as September, with part of the proceeds set to refinance a $40B bridge loan used for its OpenAI investment, per Bloomberg. SoftBank is expected to have nearly $65B invested or committed to OpenAI by October. The company is also considering a 144A structure, opening the deal to U.S. institutional investors. At $20B, it would be the largest offshore bond sale by an Asian company this year. The fundraising comes on top of a planned $6.3B Japanese retail bond sale and a recently secured $10B margin loan backed by its OpenAI stake. SoftBank’s 8.5% dollar bond fell about 2.3 cents after the report, while its credit-default swaps widened 10.7 bps.