SoftBank takes orders for $10 billion in bonds to fund OpenAI investment, term sheet shows (updated)

Softbank

23/09/2026 07:51

    (Adds milestone and more details in paragraph 5-6)
       Sept 23 (Reuters) - SoftBank Group Corp  9984.T  is
taking investor orders for a $10 billion dollar-denominated bond
deal to help fund its OpenAI investments, according to a term
sheet reviewed by Reuters on Wednesday. 
    The Japanese conglomerate is aiming to raise $1 billion in a
3-1/2-year bond, $4.5 billion in a 5-1/2-year bond and $4.5
billion in a 7-1/2-year bond deal, the term sheet showed.
    Potential investors have been told the price guidance for
the 3-1/2-year bond is 8.75% to 8.875%, the 5-1/2-year bond is
9.375% to 9.5% and the 7-1/2-year bond is 9.75% to 9.875%,
according to the term sheet.
    If completed at $10 billion, the deal would be the largest
high-yield bond sale on record by an Asia-Pacific and Japan
issuer, topping SoftBank's own $7.35 billion deal in 2021,
according to LSEG data. 
    It would also rank the third-largest global high-yield bond
deals on record, LSEG data showed.
    The bonds are expected to be rated BB+ by S&P and Fitch.
Books close at noon New York time on Wednesday with settlement
expected on September 29, the term sheet showed.
    SoftBank did not immediately respond to a request for
comment.

    (Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in
Hong Kong; Editing by Christian Schmollinger and Jacqueline
Wong)
 ((Scott.Murdoch@thomsonreuters.com;))