SoftBank Group is trading at $19.78, down 6.5%, after announcing an $11.1 billion dollar- and euro-denominated bond sale to fund its OpenAI investment.
- Reuters reported the unusually large financing has increased scrutiny of SoftBank Group’s balance sheet; credit-default swap costs exceeded 400 basis points this week.
- Broader markets are also lower as surging Treasury yields and rate concerns pressure technology and financial assets, but company-specific financing risk appears to be the stronger catalyst.