SoftBank Expands $6.05bn Credit Facility to $6.5bn with 20-Plus Banks
The expanded revolving facility gives SoftBank another year to draw on liquidity insurance as it pursues OpenAI funding and other refinancing plans.
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6 Articles
SoftBank expands $6.05bn credit facility to $6.5bn with 20-plus banks
SoftBank Group has added $450m to an existing credit line, lifting the facility to $6.5bn, people familiar with the matter told Bloomberg. Set against what the company is spending on OpenAI, the sum is a rounding error. Set against the week SoftBank has just had, it is more like a seatbelt. The previous facility, worth $6.05bn, […] This story continues at The Next Web
SoftBank Raises Arm Margin Loan to $25 Billion as AI Bets Grow
SoftBank Group Corp. has increased its margin loan backed by shares of its chip unit Arm Holdings Plc by $5 billion to $25 billion, according to people familiar with the matter, as the conglomerate finds ways to fund its expanding investments in artificial intelligence.
SoftBank Group secured an additional $450 million and increased the existing credit line to $6.5 billion. This gives the Japanese conglomerate greater financial flexibility as it expands its investments in artificial intelligence. The previous line of credit, worth about $6.05 billion, was due to expire this month. SoftBank will have...
Japanese billionaire Son Masayoshi sees his AI debt grow signficantly
Masayoshi Son built his OpenAI financing around an eventual listing that would let him borrow against a market price. Sam Altman has now said it will not happen this year. The borrowing has continued regardless, and the cost of insuring SoftBank's debt is rising.
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