HedgeCo.Net — SoftBank Group Corp. on September 24, 2026 announced terms for roughly $11.1 billion of dollar- and euro-denominated senior notes, described by Reuters and LSEG data as the largest high-yield corporate bond sale on record, according to SoftBank’s press release and Reuters. The package comprises $10 billion of USD notes and €1 billion of EUR notes.
USD tranches were set at $1 billion due 2030 at 8.625%, $4.5 billion due 2032 at 9.250%, and $4.5 billion due 2034 at 9.750%. Euro notes were €500 million due 2030 at 7.125% and €500 million due 2032 at 8.000%. SoftBank said the expected issue date is September 29, 2026, with ratings of BB+ from S&P Global Ratings Japan and Fitch Ratings Japan.
SoftBank said proceeds will fund the final $10 billion payment on its $30 billion follow-on OpenAI investment (expected to close October 1, 2026) and general corporate purposes, while it expects to cancel the remaining $10 billion of undrawn capacity under its $40 billion March 2026 bridge facility.
For allocators tracking AI-linked sponsor financing, the hard marks are the ~$11.1 billion aggregate size, coupon stack through 9.75% USD / 8% EUR, September 29 expected settlement, the final OpenAI $10 billion tranche use of proceeds, and the concurrent $10 billion bridge cancellation. Do not invent leverage ratios or OpenAI ownership percentages beyond SoftBank’s and Reuters’ published figures.