SoftBank Group Prices Japan’s Biggest Corporate Bond of 2021
- SoftBank pays some of highest coupons on local company debt
- Firm recorded biggest profit by Japanese company ever recently
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SoftBank Group Corp. priced the biggest Japanese corporate bond deal of the year on Thursday in a sale targeted at individuals.
The technology conglomerate sold 405 billion yen ($3.7 billion) of debt securities that mature in 2056 but which are callable after five years, at an interest rate of 2.75%, according to a statement from the company. The notes are hybrid securities with characteristics similar to stocks and SoftBank expects rating firms to treat the issuance as 50% equity, it said.