Softbank intends to sell its first bonds in more than a year, to take advantage of the credit markets in light of low borrowing costs.
According to Arabianet, Softbank is preparing to sell about 100 billion yen ($ 973 million) of hybrid bonds, according to the co-placement agent, Nomura Holdings. Bond pricing is planned this month.
borrowers from the Asia-Pacific region began the year with a flood of bond sales, with the dollar and euro issuance reaching $ 20 billion in just two days, according to Bloomberg. / p>
SoftBank Group's bonds and shares rebounded sharply in the past year after initially falling when the markets were shocked in early March due to the epidemic and concerns about the company's large debt burden. p>
founder Masayoshi Son responded with a plan to sell 4.5 trillion yen in assets and buy back 2.5 trillion yen worth $ 24 billion in shares, while SoftBank Group has an A grade. - Investing degree domestically from the Japanese credit rating agency, has junk ratings from Moody's and SP Global.
The investment bank said in a statement that it plans to sell the 35-year yen bonds, but that they will be callable after the fifth year. That has an early September recall date.
The bank recorded record profits of 784.4 billion yen (7.6 billion dollars) in its business in the Vision Fund for the three months ending on September 30, when investment in startups paid off after Broad rise in technology stocks.
