Story perspectives

SoftBank Seeks $11B Junk Bonds for OpenAI Bet

By Drooid · Sep 21, 2026, 10:35 AM UTC · How we work

Summary

Story summary

SoftBank Group is seeking over $11 billion in junk bonds to fund its OpenAI investment.
Dollar bonds of $10 billion will have 3.5-, 5.5-, and 7.5-year maturities; €1 billion euro notes will be 4- and 6-year.
Citi and JPMorgan serve as lead bookrunners for the dollar and euro portions respectively.
S&P rates SoftBank at BB+, and sale would rank among the largest junk issuances.

History

Historical Context

In 2000 SoftBank Group raised $2 billion via Japan’s first large high-yield bond, funding broadband growth. After years of divesting assets such as Alibaba and expanding AI bets—including a $10 billion stake in OpenAI—the group now seeks over $11 billion of new junk bonds, echoing its earlier financing model and reflecting strong investor appetite for AI-linked debt.

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Story summary

SoftBank Group is seeking over $11 billion in junk bonds to fund its OpenAI investment.
Dollar bonds of $10 billion will have 3.5-, 5.5-, and 7.5-year maturities; €1 billion euro notes will be 4- and 6-year.
Citi and JPMorgan serve as lead bookrunners for the dollar and euro portions respectively.
S&P rates SoftBank at BB+, and sale would rank among the largest junk issuances.

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