Japanese mobile operator Softbank is looking to raise Y110bn (US$1.39bn) in two distinct bond issues.
For its 39th unsecured straight corporate bond, the amount has been set at Y100bn (US$1.26bn), with an annual coupon rate of 0.74%, a five-year term…
Japanese mobile operator Softbank is looking to raise Y110bn (US$1.39bn) in two distinct bond issues.
For its 39th unsecured straight corporate bond, the amount has been set at Y100bn (US$1.26bn), with an annual coupon rate of 0.74%, a five-year term and an issue price of 100% of the principal amount.
The offering, mainly to retail investors in Japan, will take place between 10 September and 21 September 2012.
The underwriters on that issue are: Mizuho, Daiwa, Nomura, SMBC Nikko, Mitsubishi UFJ Morgan Stanley, SBI, IwaiCosmo, Okasa Securities, and Tokai Tokyo. Aozora Bank is acting as trustee.
Proceeds will be used for bonds redemption and repayment of borrowings.
Softbank is also planning to issue a 40th unsecured straight corporate bond at a value of Y10bn (US$127m). The annual coupon rate is 0.732%, the term is five years and the issue price has been set at 100% of the principal amount.
The bonds are being offered to institutional investors today (7 September). The closing date is 14 September. The underwriters are: Mizuho, Nomura, Mitsubishi UFJ Morgan Stanley, and Citigroup. Mizuho is also acting as fiscal agent.
Proceeds will go towards repayment of borrowings.
In late May this year, Softbank decided to skip a planned bond issue because of poor market conditions. A few months before that, it had issued Y50bn (US$571.7m) worth of two-year bonds.
