[FLASH] SoftBank files record JPY 1tn retail bond as OpenAI funding shifts onto borrowed money
SoftBank Group plans a record JPY 1 trillion (about $6.3bn) seven-year retail bond in Japan, indicated at a 4.3-4.9% coupon, pricing 4 September, offered 7-16 September, issued 17 September and maturing in 2033. Separately in August the group took a $10bn loan secured against its own OpenAI stake, with cumulative OpenAI investments and commitments reported above $60bn. Analysts quoted in the coverage put the residual funding gap above $20bn even after the bond settles, pointing to further offshore borrowing.