SoftBank Group shares rose more than 7% in Tokyo on September 24 after Japanese markets reopened after a three-day holiday.

The Japanese technology investor said it had raised about US$11.1 billion in bonds to help fund its latest payment to OpenAI.

The sale includes US$10 billion in dollar-denominated senior notes and 1 billion euros (US$1.14 billion) in euro-denominated notes.

SoftBank said the proceeds will fund a US$10 billion payment for the third and final tranche of its OpenAI follow-on investment, expected to close on October 1, as well as general corporate purposes.

SoftBank agreed to the US$30 billion follow-on investment in February.

Upon completion, SoftBank said this would bring its total investment in OpenAI to US$64.6 billion.

It would also give SoftBank an approximately 13% stake, amid investor scrutiny of its rising leverage.

That stake may not come with typical corporate governance rights after OpenAI retained control under its nonprofit while scaling back a planned move to full for-profit status.

🔗 Source: CNBC

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