SoftBank Group launched senior unsecured notes totaling US$10 billion and 1 billion euros (US$1.15 billion) on September 21 to help fund its follow-on investment in OpenAI, according to a term sheet.

The Japanese investment holding company said the proceeds will fund its US$10 billion payment for the third tranche of the OpenAI investment, which is expected to close on October 1.

The money will also support general corporate purposes and replace a bridge loan facility tied to the investment.

The term sheet said the bond sale is expected to price on September 24 and settle on September 29.

Citigroup and JP Morgan are the lead bookrunners.

🔗 Source: Reuters

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