SoftBank Issues Record Junk Bonds as Equity Investors Bet on AI Returns Over Debt Costs

SoftBank Group has raised $11.1 billion in junk bonds to fund its massive OpenAI investment, with borrowing yields hitting record highs while equity investors shrug off credit concerns to focus on AI gains. The Japanese conglomerate completed the world's largest high-yield corporate bond sale in September 2026, issuing dollar-denominated securities at yields of 8.625% to 9.75% across three-, five-, and seven-year maturities—the steepest rates SoftBank has ever paid for dollar bonds.