SoftBank Prices Its Biggest-Ever Yen Bond Worth $4.8 Billion
- Son’s technology firm will repay debt with the proceeds
- Borrowing costs for Japanese corporates have risen this year
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SoftBank Group Corp. priced its biggest-ever yen bond on Thursday, using its popularity with retail investors to raise 550 billion yen ($4.8 billion) to pay off other debt.
Billionaire Masayoshi Son’s technology conglomerate, which made headlines last year due to losses on Chinese ride-hailing giant Didi Global Inc., has been the single-biggest issuer in the Japanese corporate bond market in the past decade. It sold the new seven-year subordinated note at 2.48%, according to underwriter Nomura Securities Co.