SoftBank Group Corp. raised about $3.5 billion through a dual-currency bond offering, as the Japanese investment firm moves to refinance debt and partly repay a bridge loan tied to investments in OpenAI.
The company secured $1.5 billion via dollar-denominated bonds and 1.75 billion euros ($2.06 billion) through euro-denominated notes, as stated in a filing on Thursday
The fundraising comes at a time when global debt markets are showing signs of recovery.
Investor sentiment improved on hopes of a potential resolution to the Iran conflict, lifting broader financial markets and encouraging issuers to tap capital markets.
Multi-tranche bond structure detailed
The offering was split into six tranches across dollar and euro markets.
SoftBank issued $400 million worth of notes due in 2029, $600 million due in 2031, and $500 million due in 2036.
In the euro segment, it sold 700 million euros of notes due in 2030, 600 million euros due in 2032, and 450 million euros due in 2034.
The company set relatively high coupon rates for the issuance.
Dollar bonds carry interest rates of 7.625%, 8.25%, and 8.5%, while euro bonds offer 6.375%, 7.0%, and 7.375%, respectively.
SoftBank expects to complete the issuance on April 22, according to the filing.
Proceeds aimed at debt refinancing, OpenAI exposure
The proceeds from the bond sale will be used to redeem foreign-currency senior notes and partially repay a bridge loan, which was primarily used for follow-on investments in OpenAI.
SoftBank has been increasing its exposure to artificial intelligence.
The firm has been investing in OpenAI since September 2024.
In January 2025, it partnered with the company on Stargate, a US-based artificial intelligence infrastructure project.
OpenAI is known for developing ChatGPT.
Leadership reshuffle highlights AI push
Rene Haas is expected to take on a broader role within SoftBank’s international operations while continuing as chief executive of Arm, according to a Financial Times report.
The expanded responsibility would significantly widen his operational scope as founder Masayoshi Son accelerates the group’s focus on artificial intelligence and advanced semiconductor technologies.
Haas could be given a revised title under SoftBank Group International, the report said.
However, his responsibilities are not expected to include oversight of the Vision Fund’s investment vehicles or SoftBank’s energy business, leaving key capital-heavy divisions outside his mandate.
Even so, the move is seen as one of the most notable senior appointments from outside the company and could position Haas as one of Son’s closest operational lieutenants, according to the Financial Times.
Credit ratings and deal arrangers
The bonds carry a BB+ rating from S&P and will be listed in Singapore, as shown in the filing.
Major global banks are supporting the issuance.
Deutsche Bank, Goldman Sachs, JPMorgan, and Mizuho are acting as joint global coordinators, alongside other bookrunners and co-managers.
The transaction underscores SoftBank’s continued reliance on capital markets as it navigates large-scale investments in artificial intelligence while managing its debt obligations.
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