SoftBank issues $11.1 billion in bonds in OpenAI financing push

Business Recorder reported that SoftBank Group has raised $11.1 billion through bonds sold in dollars and euros. The deal would be the biggest of its kind on record from the Asia-Pacific region, and it is intended to fund the company's large wager on OpenAI. Earlier this month, the group also sold 1 trillion yen ($6.3 billion) of bonds to individual investors.

Dollar notes were split into three tranches of $1 billion, $4.5 billion and $4.5 billion, with terms of 3-1/2, 5-1/2 and 7-1/2 years. Their interest rates are 8.625%, 9.25% and 9.75% in the same order. Euro notes comprised two tranches of €500 million, maturing in four and six years and yielding 7.125% and 8%, according to a filing.

SoftBank has committed $64.6 billion to OpenAI along with further sums for related AI infrastructure. Its five-year credit default swap spread climbed above 400 basis points this week, compared with about 280 in June and 200 in October 2025. The company aims to keep its loan-to-value ratio under 25% in normal conditions and up to 35% in extraordinary ones, and the ratio stood at 13% at the end of June. Shares climbed over 6% during Thursday morning trading, after Tokyo reopened following national holidays.