SoftBank Issues Largest-Ever Bond Offering to Fuel AI Investments

SoftBank Group has announced plans to issue 1 trillion yen ($6.3 billion) in bonds, its largest-ever single bond offering, as it steps up investment in artificial intelligence. The Japanese technology group said it will use the proceeds for AI-related investments and to redeem 400 billion yen in bonds issued in 2019.

The seven-year bonds, mainly for retail investors, will have a minimum denomination of 1 million yen, with its annual interest rate expected to fall between 4.30 and 4.90 percent. The final interest rate will be set on September 4, and subscriptions will run from September 7 through September 16.