SoftBank Group is putting a record number of bonds for sale. The top tech investor is issuing 550 billion yen (US$4.7 billion) worth of seven-year subordinate notes, with proceeds going to debt repayment, reported Bloomberg.
This comes nearly four months after it offered 450 billion yen (US$3.9 billion) in what was the firm’s biggest bond sale in 2021.
Last November, Softbank posted a loss of US$3.5 billion in the second quarter of the financial year ended 2022, as its investment arm Vision Fund took a hit due to the decline in the market values of its investments in Didi and Coupang.
Bloomberg added that the conglomerate has more than 400 billion yen (US$3.5 billion) in bond repayments due next month.
See also: Commentary: Should Masayoshi Son step away from SoftBank Group?
Currency converted from Japanese yen to US dollar: US$1= 115.89 yen.
Editing by Collin Furtado and Lorenzo Kyle Subido
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