Softbank Mobile is seeking to raise about Y1tr(US$12.4bn) in senior debt in order to refinance the remainder of a Y1.45tr (US$18bn) facility completed in 2006, according to reports.
A spokesperson for Softbank confirmed that a refinancing would take…
Softbank Mobile is seeking to raise about Y1tr(US$12.4bn) in senior debt in order to refinance the remainder of a Y1.45tr (US$18bn) facility completed in 2006, according to reports.
A spokesperson for Softbank confirmed that a refinancing would take place during their financial year 2011 but declined to comment further.
The amount outstanding on that facility is reportedly Y745.5bn (US$9bn). The company also plans to use about Y200bn (US$2.4bn) to pay for a stock buyback from UK mobile operator Vodafone last year.
In November 2010, Vodafone announced that it would sell its interests in telecoms firm Softbank back to the company for £3.1bn (US$5bn). The money was to be paid in two tranches: in December 2010 (£1.6bn) and April 2012 (£1.5bn).
Several banks, including Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, Deutsche Bank, Mizuho and Sumitomo Mitsui Banking Corp (SMBC) are reportedly working on the financing, expected to close in March 2012.
