Softbank Corp plans USD3.9bn bond sale

18 Aug 2014

Bloomberg reports that Japan’s SoftBank Corp, the wireless group controlled by billionaire Masayoshi Son, is planning to sell bonds worth JPY400 billion (USD3.9 billion) – its first such sale since it abandoned plans to amalgamate Sprint Corp with T-Mobile US. In a filing to the Ministry of Finance, the carrier confirmed its intention to price the debt on 28 August when it looks to sell five-year notes to individual investors with a coupon range of 0.95% to 1.55%. Industry watchers suggest that Son’s decision to forge ahead with a debt sale indicates that his recent failure in the US market has not dampened his enthusiasm to raise funds to expand. Softbank-controlled Sprint broke off talks with T-Mobile just weeks ago amid regulatory concerns, leaving the Japanese-owned unit as the US’s number three wireless carrier – but well behind its two larger rivals.

Japan, United States, SoftBank Group Corp