Skip to content
Subscriber Only

Banks Behind IPO of SoftBank's Unit Back $9 Billion Loan

  • Loan backed by Vision Fund’s stakes in Uber, WeWork, ARM
  • Bank of America backed away from loan on concern over terms
Masayoshi Son
Masayoshi SonPhotographer: Kiyoshi Ota/Bloomberg

SoftBank Group Corp. has lined up commitments for a loan of about $9 billion for its massive Vision Fund, provided by banks including arrangers of its Japanese wireless business’s initial public offering, people with knowledge of the matter said.

The IPO’s top underwriters, which include Nomura Holdings Inc. and Goldman Sachs Group Inc., have given non-binding assurances while they finalize terms of the loan to the Vision Fund, the people said. Stakes in around five of the investment fund’s holdings will be used as collateral, according to the people, who asked not to be identified because the information is private.