SoftBank issues $11.1B in bonds for OpenAI investments

--> Japanese technology investment group SoftBank Group has issued U.S. dollar- and euro-denominated bonds totaling $11.1 billion. The proceeds from the offering are expected, among other things, to fund the company’s investments in artificial intelligence, Channel NewsAsia reports , citing a corporate document.

SoftBank issued senior U.S. dollar bonds in three tranches: $1 billion with a 3.5-year maturity, as well as $4.5 billion each with maturities of 5.5 and 7.5 years. The interest rates on these issues are 8.625%, 9.25%, and 9.75% per annum, respectively.