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Story summary
- SoftBank Group issued $11.1 billion of high-yield bonds, the largest Asia-Pacific junk-bond sale.
- The issuance included a $4.5 billion 7.5-year tranche priced at a record 9.75% yield.
- Proceeds will finance SoftBank’s $64.6 billion commitment to OpenAI and AI infrastructure.
- Five-year CDS spreads rose above 400 basis points, up from 280 bps in June.
- SoftBank shares jumped more than 6% in morning trading after Japan’s holiday closure.