SoftBank Group is raising over $11 billion through a historically expensive high-yield bond offering, with yields between 9% and 10% on dollar-denominated tranches. The Japanese conglomerate, rated BB+ by S&P and Fitch, is refinancing a $40 billion bridge facility used for its investments in OpenAI while increasing its exposure to the AI leader with a total commitment of nearly $65 billion for an approximately 13% stake. Despite the steep cost, preliminary investor demand exceeded $20 billion, illustrating market appetite for AI-related opportunities even with significant risk premiums.
Source: Read the original article
