SoftBank draws over $20 billion of early interest in junk bond
Investors are rushing to capture record yields likely to be offered to help fund the firm's investments in OpenAI.
SoftBank Group has attracted over $20 billion in preliminary interest for a potentially record-breaking junk bond deal, according to sources familiar with the matter. Investors are eager to capitalize on the anticipated high yields that the deal could offer, which would support SoftBank's investments in OpenAI. The demand consists of early, nonbinding indications from investors, serving as a gauge before the final pricing, which is still set for Thursday.
SoftBank aims to raise the equivalent of more than $11 billion, including a $10 billion and a €1 billion portion. There is no cap on the size of the deal, and no final decisions have been made yet.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
