SoftBank Raises $1.86 Billion Overseas as It Boosts AI Bets
- Dollar, euro deal is firm’s first overseas sale since 2021
- Funds will be used to repay debt, make new investments
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SoftBank Group Corp. raised about $1.86 billion via dollar and euro bond sales in one of the biggest foreign-currency deals by a Japanese company this year, as the tech firm moves to expand investment in artificial intelligence.
In its first non-yen debt offering since 2021, billionaire Masayoshi Son’s company priced two dollar tranches totaling $900 million and two euro tranches raising €900 million ($964 million), according to the firm. SoftBank said the funds will be used to retire debt and fund operations. Its shares also climbed on optimism toward its AI investments.