SoftBank Seeks Over $11B in Junk Bonds to Fund Additional OpenAI Investment

SoftBank Group is seeking to raise more than $11 billion in junk bonds, in what would rank among the largest high-yield debt offerings on record, according to reports. The Japanese investment firm plans to issue $10 billion in dollar-denominated bonds across three tranches and €1 billion (about $1.1 billion) in euro-denominated bonds across two tranches, people familiar with the matter said.

Part of the proceeds will be used for a follow-on investment in OpenAI, and the additional investment is expected to close in October 2026.