SoftBank to borrow USD4.5bn on domestic telecoms unit

20 Feb 2020

Japanese holding company SoftBank Group Corp has revealed plans to borrow up to JPY500 billion (USD4.5 billion) by using its Japanese telecoms unit – SoftBank Corp – as collateral to raise funding for its behemoth investment ventures. Bloomberg notes that the two-year loan, which will have a one-year extension option, will be compiled from no fewer than 16 financial institutions, SoftBank said in a statement, as it committed up to 953 million shares of SoftBank Corp to help fund its ongoing operations. SoftBank Group Corp’s stock climbed 3.6% in the wake of the announcement.

Japan, SoftBank Corp, SoftBank Group Corp