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Apollo to Lend $4 Billion to SoftBank in Private Credit Deal

  • Financing represents largest unitranche ever in that market
  • Deal backed by Softbank’s Vision Fund 2, valued at $40 billion
SoftBank Group's headquarters, in Tokyo.

SoftBank Group's headquarters, in Tokyo.

Photographer: Kiyoshi Ota/Bloomberg
Updated on

Apollo Global Management Inc. is planning to lend about $4 billion to SoftBank Group Corp., marking the biggest ever loan of its kind in the private credit market, according to people with knowledge of the matter.

The financing will be backed by holdings of SoftBank Vision Fund 2, which has made a range of equity investments in technology startups, the people added, asking not to be named discussing a private transaction. Terms are not yet final, but the $4 billion in borrowings would compare to the fund’s holdings of about $40 billion, one of the people said.