SoftBank Issues 10-Year Dollar Bonds with Record 8.5% Coupon Rate
On April 16, SoftBank Group agreed to pay its highest-ever interest rate for dollar bonds, highlighting concerns over the Japanese conglomerate's massive investments in the artificial intelligence (AI) sector. According to the company's statement, SoftBank issued $1.5 billion and €1.75 billion ($2.1 billion) in bonds on Wednesday, with part of the proceeds intended to repay bridge loans related to its investment in the American tech company OpenAI. The 10-year dollar bonds issued carry a coupon rate of 8.5%, setting a record for the company in dollar bond issuance, surpassing the previous high set in October of last year. (Bloomberg)
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