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SoftBank Group Plans 1 Trillion Yen Bond Offering

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SoftBank Group (TYO:9984) has filed for the issuance of 1 trillion yen of unsecured straight corporate bond, with final terms expected to be disclosed on Sept. 4, according to a filing on Monday.

The seven-year bond, representing the 70th such issuance, was priced at 100% of par value and will carry an interest rate in the preliminary range of 4.30% to 4.90% per annum. The bond is set to mature on Sept. 16, 2033.

The offering will be publicly available in Japan from Sept. 7 to 16, primarily targeting individual investors, with interest payments scheduled semi-annually on March 17 and Sept. 17.

The bond is unsecured and unguaranteed, featuring a negative pledge clause, a transformation-to-secured clause, and a net worth maintenance covenant, with a syndicate of 11 underwriters.

The bond, which will be rated A by the Japan Credit Rating Agency, is not registered under the U.S. Securities Act and will not be offered or sold in the U.S.

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