No products in the cart.
Softbank prices US$3.36bn bond
Japanese telco Softbank has announced plans to raise Y400bn (US$3.36bn) in its first unsecured subordinated corporate bond.
The 2.5% notes have been priced at par and are set to mature on 17 December 2021.
It said proceeds will be used for the…
Japanese telco Softbank has announced plans to raise Y400bn (US$3.36bn) in its first unsecured subordinated corporate bond.
The 2.5% notes have been priced at par and are set to mature on 17 December 2021.
It said proceeds will be used for the “redemption of the preferred securities issued by SFJ Capital Limited, a subsidiary of the company, and funds for investments and loans”.
Mizuho, Daiwa, SMBC Nikko, Mitsubishi UFJ, Morgan Stanley, SBI, IwaiCosmo, Okasan and Tokai Tokyo were listed as underwriters.
The offering period for the notes, which have been rated BBB+ by the Japan Credit Rating Agency, runs from 4 December to 18 December, with closure set for 19 December.
The telco has recently been on a spending spree for TV and video content as it seeks to diversify its business. It has also announced plans to invest US$10bn in India’s e-commerce sector within the next decade.
Softbank is also rumoured to be among potential bidders for the telecoms assets that America Movil (AMX) has been required to sell in Mexico to lower its dominance in the country.
