By Kosaku Narioka
SoftBank Group plans to issue $2.61 billion of hybrid notes in Japan, primarily targeting retail investors.
The Japanese technology investment company said Monday that it would issue 418.0 billion yen of 35-year notes in Japan, to repay previously issued hybrid notes at their first optional redemption date in June.
SoftBank Group said the interest rate on the notes would be fixed for the initial five years and floating thereafter.
The Japanese company said it expected hybrid notes to be eligible for 50% equity treatment from rating companies. The notes are rated at BBB+ by Japan Credit Rating Agency.
The company said detailed terms and conditions are scheduled to be determined on April 10.
SoftBank Group shares were recently 8.4% lower amid broad market selloffs and following sharp declines in shares of chip-design unit Arm Holdings on Friday.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
03-29-26 2210ET
