SoftBank Group Corp. set final terms on a foreign-currency senior bond package worth roughly $11.1bn equivalent, about ¥1.76tn at the issuer's own conversion rates. The coupons range from 7.125% to 9.75%, and both S&P Global Ratings Japan and Fitch Ratings Japan rate every tranche BB+, squarely in speculative-grade territory.
The dollar leg totals $10bn split across three maturities running from 2030 to 2034; the euro leg adds €1bn split across two maturities to 2032. All five tranches priced at 100% of face value.
| Currency | Maturity | Size | Coupon |
|---|---|---|---|
| US dollar | April 2030 | $1bn (¥158.3bn) | 8.625% |
| US dollar | April 2032 | $4.5bn (¥712.4bn) | 9.250% |
| US dollar | April 2034 | $4.5bn (¥712.4bn) | 9.750% |
| Euro | October 2030 | €500mn (¥90.1bn) | 7.125% |
| Euro | October 2032 | €500mn (¥90.1bn) | 8.000% |
Every note is unsecured and unguaranteed, and none will list in Tokyo: all five tranches go to the Singapore Exchange instead. The sale runs under Rule 144A and Regulation S, meaning it reaches institutional buyers in the United States, Europe and Asia but explicitly excludes Japan; SoftBank does not plan to file a domestic securities notification, and the notes will not be offered to residents of Japan except as exceptions permitted under applicable law. Dollar-tranche coordinators are Citigroup Global Markets, Goldman Sachs, J.P. Morgan Securities and Morgan Stanley; the euro tranches run through J.P. Morgan Securities plc, Deutsche Bank AG's London branch and Goldman Sachs International. Settlement is scheduled for September 29, 2026.
SoftBank says the proceeds are intended for the third and final tranche of the $30bn additional investment in OpenAI Group PBC it committed to in February 2026, a $10bn payment planned for execution on October 1, 2026, plus general corporate funds. The company separately plans to cancel the remaining $10bn of undrawn capacity under a $40bn bridge facility it signed in March 2026.
The bonds have not yet settled, and the OpenAI tranche they are meant to fund has not yet been paid out.