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SoftBank begins marketing US dollar, euro bonds
[HONG KONG] SoftBank Group is marketing US dollar and euro-denominated fixed-rate notes.
Initial price thoughts on the US dollar seven and 10-year notes are at 4.875 per cent area and 5.375 per cent area respectively. They are at 3.5 per cent area and 4.625 per cent area on the eight and 12-year euro tranches.
The four tranches have received combined investor interest of over US$6.5 billion-equivalent.
The senior unsecured notes have initial ratings of Ba1/BB+ (Moody's/S&P).
Proceeds will be used to refinance certain bank loans and for general corporate purposes.
Deutsche Bank, Citigroup, Goldman Sachs and Morgan Stanley are joint global coordinators and active bookrunners.
Mizuho, Credit Agricole, JP Morgan, Bank of America Merrill Lynch, UBS, BNP Paribas and Barclays are passive bookrunners.
The notes will price as early as tomorrow.