SoftBank eyes up to $20B bonds for $40B OpenAI loan
SoftBank is gearing up for a huge bond sale (possibly up to $20 billion) to help pay off a $40 billion loan connected to its big investment in OpenAI, according to Bloomberg.
The bonds could launch as early as September and could be denominated in dollars and euros.
This is all part of SoftBank's wider close to $65 billion investment in OpenAI by October, funded in part by loans.
SoftBank sale would set Asia record
If SoftBank goes for the full $20 billion, it would set a new record for Asia's largest bond sale this year.
The company also wants to reach US investors using the 144A format, a first in over a decade.
Earlier this year, SoftBank raised $3.6 billion from offshore bonds and is now planning another major retail bond offering in Japan.
All this comes as companies have already borrowed more than $410 billion in bonds for AI projects this year, showing just how much excitement (and money) is flowing into artificial intelligence right now.