Deals
Son’s T-Mobile Loss a Win for SoftBank Bond Risk: Japan Credit
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SoftBank Corp.’s bond investors breathed a sigh of relief after billionaire founder Masayoshi Son abandoned his nine-month effort to acquire T-Mobile US Inc.
The cost to insure SoftBank’s debt against non-payment plunged 25 basis points to 160 basis points yesterday, according to CMA. That’s the lowest since news of the talks came out in December, sending risk to a one-year high at 227 on Jan. 27. The Markit iTraxx Japan credit-default swap index was at 66.