SoftBank Group Corp. launched a junk bond sale to raise over $11 billion. The offering includes $10 billion in dollar-denominated bonds. The deal also features €1 billion in euro notes across several maturities.
Proceeds will fund a follow-on investment in OpenAI, the creator of ChatGPT. The transaction is expected to close in October.
This sale ranks among the largest high-yield offerings in history. SoftBank’s total investment commitment to OpenAI is approximately $65 billion.