SoftBank Group Corp. is in discussions with investment banks regarding a potential bond offering ranging from $10 billion to $20 billion. The Japanese conglomerate aims to refinance a loan taken for its investment in OpenAI, a U.S. tech giant. This offering could be denominated in both dollars and euros and might launch as early as September. These discussions are ongoing, and the details are subject to change.
SoftBank is scheduled to meet with investors in New York from September 14-17 to explore this significant high-yield debt offering. The purpose is to refinance a $40 billion bridge loan secured to fund its OpenAI commitments, which are expected to total around $64.6 billion. The bridge loan is due to mature in March 2027, giving SoftBank approximately six months to secure more permanent financing.
The company's current credit rating from S&P is BB+, one notch below investment grade, which typically leads to higher borrowing costs and a smaller pool of eligible buyers. SoftBank previously issued a $3.6 billion multi-currency bond in April 2026, with a portion carrying an 8.5% coupon rate. SoftBank CFO Yoshimitsu Goto and other executives, alongside representatives from Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, will lead the investor meetings.
In addition to the bond offering, SoftBank recently secured an upsized $11.87 billion two-year loan, exceeding its initial target of $10 billion, to further support its OpenAI investment. This loan was finalized last week with commitments from approximately 20 banks. Furthermore, SoftBank announced it would repay the outstanding balance of $25.9 billion on its $40 billion bridge loan by September 15, as it proceeds with refinancing plans.
