SoftBank Group repaid in full the drawn portion of its $40 billion unsecured bridge loan in September 2026, months before its March 2027 maturity, and canceled the unused capacity. The financing, which was intended partly to support an additional $30 billion investment in OpenAI, was replaced by an $11.87 billion term loan, Intel share prepaid forwards, an Arm-backed margin loan increased to $25 billion, and bond proceeds. Intel’s share-price rise resulted in a ¥321.9 billion accounting loss on the derivatives linked to SoftBank’s position, illustrating the upside cap imposed by the structure. After an additional $10 billion tranche in October 2026, SoftBank’s cumulative investment in OpenAI reached $64.6 billion, giving it an approximately 13% stake. The early payoff removes the 2027 deadline but concentrates more financing risk on the value of Intel and Arm shares and on OpenAI’s eventual valuation.
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