SoftBank priced ¥46 billion ($292 million) in bonds on Friday, bringing its already record issuance this year to around ¥400 billion.
The Tokyo-based telecom company will issue ¥10 billion in five-year, ¥18 billion in seven-year and ¥18 billion in 10-year notes, according to lead underwriter SMBC Nikko Securities. The coupon rates were set at 1.913%, 2.324% and 2.677% respectively.
The offering comes amid a sharp rise in benchmark government bond yields, driven by concerns over fiscal expansion under Prime Minister Sanae Takaichi’s administration. The yield on 10-year Japanese government bonds briefly touched 1.835% this week, the highest level since 2008.
SoftBank is seeking to expand beyond telecommunications and has formed a joint venture in Japan with U.S.-based OpenAI to accelerate the development of AI-powered products and enterprise services. Since its public listing in 2018, the company has actively tapped capital markets through bonds and bond-type class shares, including its first foreign currency bond issued in July.
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