SoftBank Corp. Raises $870 Million Using Z Holdings Shares
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SoftBank Corp. has borrowed about 100 billion yen ($870 million) using Z Holdings Corp.’s shares in its first such asset-backed financing to raise funds for business purposes.
SoftBank is using about 361,440,000 shares, or 4.8%, of Z Holdings that it indirectly owns through A Holdings Corp. for stock lending, according to company spokesperson Makiko Ariyama. The telecommunications giant received cash by lending out the Z Holdings shares, she said. She declined to comment on who SoftBank lent the shares to.