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Japan's SoftBank Prices $11.1 Billion of Foreign Currency-Denominated Senior Notes

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SoftBank Group priced its issuance of roughly $11.1 billion of foreign currency-denominated senior notes at 100% of their principal amount, the company said Thursday.

The issuance comprises $10 billion of US dollar-denominated notes due 2030, 2032, and 2034, and 1 billion euros ($1.14 billion) of euro-denominated notes due 2030 and due 2032.

The company expects issuance Sept. 29 and plans to use the proceeds to fund the $10 billion payment for the third and final tranche of the $30 billion follow-on investments in OpenAI, among other things, it said.

What else is happening in Treasury?

Treasury

SoftBank Group Prices $11.1 Billion Multi-Tranche Bond Offering to Fund OpenAI Investment

SoftBank Group (TYO:9984) has priced an $11.1 billion multi-currency bond offering, comprising $10 billion in US dollar notes across three tranches and 1 billion euros in European bonds across two tranches, according to a Thursday company statement.The US dollar-denominated tranches consist of notes due in 2030, 2032, and 2034, carrying coupon rates of 8.625%, 9.250%, and 9.750%, respectively. The euro-denominated tranches, maturing in 2030 and 2032, carry interest rates of 7.125% and 8.000%. All notes are priced at 100% of principal with semi-annual interest payments.The notes, rated BB+ by S&P Global and Fitch Ratings, are scheduled to settle on Sept. 29 and will be listed on the Singapore Exchange.Proceeds from the issuance will be used to fund the third and final $10 billion tranche of SoftBank's $30 billion follow-on investment in OpenAI, expected to close Oct. 1, with the remaining balance earmarked for general corporate purposes.Concurrently, Softbank expects to cancel the remaining $10 billion of undrawn capacity under its $40 billion bridge facility agreement entered into in March.

TYO:9984
Treasury

Viking Therapeutics Plans Offering of Common Shares, Senior Notes due 2032

Viking Therapeutics (VKTX) said late Wednesday it plans separate public offerings of $200 million of its common stock and $200 million of convertible senior notes due 2032.The company will grant the underwriters of the respective offerings a 30-day overallotment option to buy up to an additional $30 million of the shares and notes each, according to a statement.Net proceeds from the offerings will be used for clinical development and commercialization of its VK2735 and VK3019 programs, and for general corporate purposes, the company said.

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Treasury

AIR Global Unit Prices $425 Million Senior Unsecured Notes

AIR Global (AIIR) unit AIR Limited said Wednesday it has priced $425 million in senior unsecured notes.The notes will mature in 2031 and have a coupon of 7.875% per year, the company said.The issuer will use proceeds to repay debt under a term loan facility and revolving credit facility, and for general corporate purposes, the company said.The offering is expected to settle on or around Oct. 1, it said.

$AIIR