Softbank in talks to renegotiate loan for Vodafone KK purchase

26 Sep 2006

Japanese telecoms group Softbank Corp has confirmed it is in talks to secure a loan to refinance its acquisition of the local unit of mobile phone giant Vodafone Group and expects to reach an agreement soon. Softbank’s statement comes in the wake of a report in the Keizai Shimbun suggesting that it plans to raise JPY1.45 trillion (USD12.45 billion) by the securitisation – the process of making non-tradable financial payments that can be repackaged into other securities and then sold – of the operations of its mobile phone unit Vodafone KK.

Japan, SoftBank Corp, SoftBank Group Corp