SoftBank Group, led by Chairman Masayoshi Son, is preparing to issue corporate bonds worth 550 billion yen (approximately 4.8005 trillion KRW) in Japan, Bloomberg reported on the 20th.
According to documents submitted by SoftBank to the authorities, the plan is to issue 7-year yen-denominated corporate bonds.
According to a SoftBank spokesperson, the corporate bonds will be issued to individual investors, and the funds raised will be partially used to repay retail bonds maturing this year.
Including the bonds maturing next month, SoftBank has over 900 billion yen (approximately 7.8554 trillion KRW) in corporate bonds maturing by next year.
According to disclosure documents, the interest rate on the corporate bonds has been tentatively set at 2.65% to 3.25% per annum. It is scheduled to be finalized on the 31st.
If SoftBank succeeds in this large-scale corporate bond issuance, it will become the largest corporate bond issuer in Asia. SoftBank has issued large-scale corporate bonds twice this year, including 550 billion yen in March, bringing the total cumulative issuance to 650 billion yen (approximately 5.6733 trillion KRW).
Meanwhile, SoftBank is a company related to the recent 'Line incident.' SoftBank holds a 50% stake each with Naver in A Holdings, the parent company of Line Yahoo, the operator of Japan's popular messenger app 'Line.'
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