SoftBank Group, a Japan-based investment company led by Masayoshi Son, has secured an US$11.87 billion loan to support its investment in OpenAI, people familiar with the matter said.

The amount exceeded an earlier US$10 billion target. The people said the two-year facility was agreed last week, with commitments from around 20 banks.

SoftBank also plans to repay the remaining US$25.9 billion of a separate OpenAI-related bridge loan on September 15 after obtaining a US$40 billion facility earlier this year.

The company has previously disclosed an additional US$22.5 billion investment in OpenAI, indicating the commitment was built in stages. The earlier bridge facility was used to fund that stake.

The new borrowing has added to focus on SoftBank’s balance sheet. S&P Global Ratings revised SoftBank’s outlook to negative in March.

SoftBank shares fell as much as 13% on September 14, the most since July 17.

🔗 Source: Bloomberg

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