Softbank seeks massive loan

21 Jul 2006

According to reports citing people involved in the transaction, Softbank Corp plans to borrow JPY1.4 trillion (USD12 billion) to finance the acquisition of Vodafone KK. If successful it would be Japan’s biggest ever asset-backed loan to refinance debt. Softbank’s founder, Masayoshi Son, is seeking to reassure investors concerned with falling profits at the cellco. Shares in the Tokyo-based company fell 33% since the takeover was announced in March.

Japan, SoftBank Corp, SoftBank Group Corp