SoftBank sells $11 billion of bonds to pay OpenAI another $10 billion
Prepared by Sintelligent with the help of SI. Publication time restored from the build log. . Updated: .
The bet on SI has become so big that it is being financed with record debt, and there is no turning back for investors.
SoftBank is issuing $10 billion of dollar bonds maturing in 3.5, 5.5 and 7.5 years and €1 billion of 4- and 6-year bonds; the money will go toward the $10 billion third tranche of its investment in OpenAI and replace a bridge loan taken earlier. After the tranche, SoftBank's investment in OpenAI will total about $64.6 billion, roughly 13% of the company. If the deal goes through at the stated size, it will be the largest bond issue by a non-financial company in the Asia-Pacific region, surpassing the record held by 7-Eleven ($10.93 billion in 2021).
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