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Softbank Group launches over $10 billion in bonds for OpenAI investment, term sheet shows
HONG KONG: SoftBank Group Corp has launched $10 billion and 1 billion euro-denominated senior unsecured notes to fund its investment in OpenAI, a term sheet showed on Monday. The dollar-denominated notes are split into 3-1/2-year, 5-1/2-year and 7-1/2-year tenors, while the euro-denominated bonds are split into 4-year and 6-year tenors, according to the term sheet. Proceeds will be used to fund SoftBank’s $10 billion payment for the third tranche of its follow-on investment in OpenAI, which is expected to close on October 1, and for general corporate purposes, the term sheet said. Sof...
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