Japanese telco Softbank is planning to redeem Y32.4bn (US$417m) worth of subordinated bonds in December, which is five years before their maturity date, according to Reuters citing a Nikkei report.
This move will see Softbankâs interest payments…
Japanese telco Softbank is planning to redeem Y32.4bn (US$417m) worth of subordinated bonds in December, which is five years before their maturity date, according to Reuters citing a Nikkei report.
This move will see Softbankâs interest payments being lowered by about Y5bn (US$64m).
To redeem those bonds early, the company will reportedly need to pay a premium of 7.5% over the issue price.
These bonds were issued in 2004 to finance the acquisition of Japan Telecom, now known as Softbank Telecom, wrote Reuters quoting the Japanese newspaper.
Softbank was not immediately available for comment.
