SoftBank Group Corp. sold the biggest yen note in the Japanese corporate bond market this year, continuing a global funding spree as it faces hefty debt redemptions in the next six months.
Billionaire Masayoshi Son’s technology conglomerate priced on Friday a ¥450 billion ($4.1 billion) subordinated bond targeting individual investors at 2.4%, together with a ¥50 billion note for institutional investors, according to filings. The company has about ¥1.2 trillion of bond repayments due in its home market before the end of February, including planned early redemptions, according to data compiled by Bloomberg.
SoftBank is having one of its busiest years ever in global issuance markets, and raised more than $7 billion in a debt offering across dollars and euros in June. The company’s global presence has expanded in recent years since Son turned its focus to investing in startups and listed companies. That has exposed investors to greater financial market volatility and movements in the firm’s stock price.