SOFTBANK SEEKS OVER $11B IN JUNK BONDS TO FUND ITS OPENAI INVESTMENT
The company is looking to issue $10B of dollar securities and €1B of euro notes, per people familiar cited by Bloomberg. The deal may price Thursday, with proceeds partly funding a follow-on OpenAI investment expected to close next month.
At that size it would be one of the largest junk bond sales ever by a single firm. SoftBank is rated BB+ by S&P and has committed close to $65B to OpenAI.
It has sold almost $15B of notes across currencies this year, the most of any junk-rated borrower in 2026. The yield on its 2031 dollar bond hit 8.2% earlier this month, from as low as 6.7% in January.