Aug. 29 at 2:05 AM
SoftBank Group is seeking a
$10 billion loan to help refinance debt used to fund its investment in OpenAI, according to people familiar with the matter. The two-year facility would carry a spread of about 275 basis points over SOFR, with Mizuho Bank serving as lead arranger and underwriter.
The financing adds to SoftBank’s aggressive debt-raising efforts as it prepares to invest roughly
$65 billion in OpenAI by October. Part of the proceeds could be used to repay a
$40 billion bridge loan secured earlier this year, with banks already discussing commitments ahead of the Aug. 31 deadline.
SoftBank is also considering issuing
$10 billion-
$20 billion in bonds to refinance the bridge loan and plans a record 1 trillion-yen (
$6.3 billion) retail bond sale in Japan. Earlier this month, it secured another
$10 billion loan backed by its OpenAI stake, with terms that could require additional cash contributions or early repayment.
$SFTBY