SoftBank raises $11.1 billion via bonds to fund OpenAI investment

SoftBank Group has raised approximately $11.1 billion through a massive sale of dollar- and euro-denominated high-yield bonds. This transaction is reported to be one of the largest high-yield bond sales by an Asia-Pacific issuer.

The proceeds are primarily intended to fund the final $10 billion tranche of SoftBank’s $30 billion investment commitment to OpenAI, which is scheduled to close around October 1, 2026. Once completed, SoftBank’s cumulative investment in OpenAI is expected to reach roughly $64.6 billion, representing an estimated 13% ownership stake.

The bond offering includes $10 billion in US dollar-denominated senior unsecured notes with maturities of 3.5, 5.5, and 7.5 years, carrying interest rates between 8.625% and 9.75%. Additionally, the group issued approximately €1 billion in euro-denominated notes with yields of 7.125% and 8%.

While the capital raise supports Masayoshi Son’s aggressive artificial intelligence strategy, analysts note the high cost of debt and increased financial exposure. The bonds are expected to carry speculative-grade ratings, such as BB+ from Fitch.