SoftBank to launch record ¥1 trillion retail bond sale for AI spending
SoftBank is planning a ¥1 trillion ($6.3 billion) retail bond sale, the biggest ever by a Japanese company. The seven-year paper, offered at a 4.3%-4.9% coupon, will refinance ¥400 billion of maturing bonds and fund Masayoshi Son's OpenAI commitments and physical-AI bets. Even after the raise, the conglomerate still faces a $20 billion-plus shortfall — a hint at offshore debt to come.