FundingSoftBank sells $10B junk bonds to keep feeding OpenAI
SoftBank is hawking a record Asia junk-bond pile so Masayoshi Son can keep writing OpenAI cheques — at yields that would make a distressed-debt desk blush. THE GIST SoftBank opened books Wednesday on a $10 billion dollar bond deal ($1B 3.5y, $4.5B 5.5y, $4.5B 7.5y) to help fund OpenAI commitments, with price talk up to ~9.875%. Bloomberg also flagged a ~€1B euro sleeve, pushing the package past $11B. Settlement targeted for 29 September. THE TAKE This is not "patient capital