SoftBank launches dollar and euro bonds to fund its next OpenAI payment
SoftBank launched $10 billion in dollar bonds and 1 billion euros in bonds. Reuters reported the launch on September 21 in Asia, when it was still September 20 Pacific time.
Verified 12:42 AM PDT · 1 original sources
A term sheet says SoftBank will use the money for a $10 billion payment to OpenAI and general corporate purposes. The payment is expected to close on October 1. The bonds would replace a bridge loan facility.
SoftBank has launched the offering, but investors have not priced or settled the bonds. Reuters says pricing is expected on September 24 and settlement on September 29.
SoftBank must repay the debt even if its investment disappoints.
The final interest rates and maturity terms will show what investors charge SoftBank to borrow. Settlement would confirm the bond sale. The October payment would confirm that SoftBank paid OpenAI.
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