Rakuten Seeks $500 Million in Rare Japanese Junk Bond Deal
- Firm markets new debt to bolster struggling mobile business
- Company faces risk of credit downgrade given poor finances
This article is for subscribers only.
Rakuten Group Inc. is marketing a $500 million dollar bond to bolster the Japanese internet firm’s struggling mobile unit, in a test of demand for a rare junk debt offering from the country and a borrower under financial strains.
Amazon.com Inc.’s competitor in Japan is expected to price the two-year senior unsecured notes early next week, according to people with knowledge of the matter.