Softbank Corp. plans to take out 1.28 trillion yen in loans to buy British mobile phone operator Vodafone Group PLC's Japan business, company sources said Tuesday.

The Internet investor will raise the money in the form of syndicated loans from seven financial institutions in Japan, Europe and the U.S., with Deutsche Bank and Mizuho Corporate Bank each expected to extend between 200 billion yen to 300 billion yen.

Among others, Sumitomo Mitsui Banking Corp., Citibank and Goldman Sachs (Japan) Ltd. are expected to each offer 100 billion yen to 200 billion yen.