Softbank in talks with eleven banks to fund Vodafone purchase

29 Mar 2006

Softbank Corp is looking for a one-year loan from eleven banks to help fund its JPY1.8 trillion (USD15.3 billion) acquisition of Vodafone KK, the Japanese mobile arm of the Vodafone Group. People familiar with the deal say Softbank could look to borrow as much as JPY1.2 trillion for the bridging loan which would be refinanced in a year’s time with bonds and longer-term bank loans. Softbank needs to meet a 4 April deadline to find funding or risk forfeiting the transaction.

Japan, SoftBank Corp, SoftBank Group Corp