Tokyo:SoftBank Group has successfully raised $11.1 billion by issuing dollar- and euro-denominated bonds as part of its strategy to fund ongoing investments in artificial intelligence.
According to Emirates News Agency, the company issued $1 billion in 3.5-year senior dollar notes, $4.5 billion in 5.5-year notes, and another $4.5 billion in 7.5-year notes, with respective yields of 8.625%, 9.25%, and 9.75%.
Additionally, SoftBank issued two tranches of 500 million pounds each, with maturities set for four and six years, offering yields of 7.125% and 8% respectively.
The funds raised are intended to support the financing of the final $10 billion portion of SoftBank's $30 billion follow-on investment in OpenAI, the company behind ChatGPT. Upon completion, SoftBank's total investment in OpenAI is projected to reach $64.6 billion.