Rakuten Boosts Junk Bond Sale to $2 Billion on Strong Demand
- Company increased five-year note sale from $1.25 billion
- Rakuten received more than $8 billion in orders for offering
Rakuten Group headquarters in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Rakuten Group Inc. priced a $2 billion junk bond after boosting the size of the offering by 60% due to strong demand from investors.
The Japanese conglomerate priced the deal to yield 9.875%, according to information from a person familiar with the matter. The issuer increased the five-year deal from $1.25 billion on Wednesday, after demand for the offering surpassed $8 billion, according to people with knowledge of the matter.