SoftBank plans record ¥1T bond sale to fund OpenAI investments

SoftBank Group is preparing a record ¥1 trillion ($6.3 billion) retail bond sale in Japan to fund its massive investment commitments to OpenAI. The 7-year bonds are expected to be priced on September 4, with an indicative coupon rate between 4.3% and 4.9%.

SoftBank’s total commitments to OpenAI have now surpassed $60 billion, with the company targeting an ownership stake of approximately 11% to 13% through its Vision Fund 2. The capital raised will support OpenAI investments and related infrastructure development, such as data centers and computing capacity.

This marks SoftBank’s third retail bond offering in 2026, following previous sales in April and June. The move comes as S&P Global Ratings recently upgraded SoftBank’s outlook from negative to stable, noting improvements in key financial ratios.