SoftBank Taps Record $11.1 Billion Junk Bond Sale to Complete OpenAI Bet

SoftBank Group raised $11.1 billion in high-yield bonds on September 22, 2026, marking the largest corporate debt issuance on record in Asia-Pacific and globally among speculative-grade borrowers—a steep price paid to fund the final $10 billion tranche of its $30 billion follow-on investment in OpenAI. The Japanese conglomerate issued $10 billion in dollar-denominated senior notes across three maturity buckets (3.5, 5.5, and 7.5 years) priced at yields of 8.625%, 9.25%, and 9.75% respectively, alongside €1 billion in euro notes at 7.125% and 8%. Underwritten by Citigroup, JPMorgan, Goldman Sachs, Morgan Stanley, and Deutsche Bank, the deal attracted over $30 billion in orders for the dollar portion alone—roughly three times the amount offered—enabling SoftBank to maintain pricing despite broader market caution around leveraged AI bets.