Deals
SoftBank to Sell 400 Billion Yen Bonds to Individuals for Sprint
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SoftBank Corp., the Japanese carrier bidding to take over Sprint Nextel Corp. in a $20.1 billion deal, plans to sell 400 billion yen ($3.9 billion) of bonds targeting individual investors to fund the purchase.
The mobile-phone company will price the five-year notes to yield from 1.25 percent to 2.25 percent on June 3, according to a filing with Japan’s Finance Ministry today. The securities will be offered from June 4 to 19, according to the filing. The offering will be the largest by SoftBank, which has raised the equivalent of $6.9 billion in bonds since the transaction was announced in October, data compiled by Bloomberg show.