SoftBank Plans Over $11 Billion Junk Bond Sale to Fund Third OpenAI Investment Tranche

SoftBank Group is raising over $11 billion through a junk bond offering to fund a substantial follow-on investment in OpenAI, marking one of the largest high-yield debt issuances in recent history. The Japanese conglomerate plans to issue $10 billion in U.S. dollar-denominated senior notes across three maturities (3.5, 5.5, and 7.5 years) alongside €1 billion in euro-denominated bonds across two maturities (4 and 6 years). The bonds are expected to price on September 24, 2026, with settlement on September 29, according to the offering prospectus.