SoftBank Group has raised US$11.1 billion through dollar- and euro-denominated bonds to help fund its planned investment in ChatGPT maker OpenAI, according to a company filing through a report by Reuters.
The Japanese technology investor issued three dollar-denominated senior notes worth US$1 billion, US$4.5 billion and US$4.5 billion with maturities of three-and-a-half, five-and-a-half and seven-and-a-half years respectively.
The notes carry interest rates of 8.625%, 9.25% and 9.75%.
SoftBank also issued two €500 million tranches of euro-denominated senior notes, with four-year and six-year maturities carrying yields of 7.125% and 8% respectively.
The proceeds will be used to finance the final US$10 billion tranche of SoftBank’s planned US$30 billion investment in OpenAI.
Once completed, SoftBank’s total investment in OpenAI will reach US$64.6 billion.
The latest bond issue comes after SoftBank raised ¥1 trillion, or about US$6.32 billion, through corporate bonds targeting retail investors earlier this month.
SoftBank has been ramping up funding for its artificial intelligence investments as it expands its exposure to OpenAI and other AI-related businesses.
