Published on 12/1/2022 in the Prospect News High Yield Daily.
New Issue: SoftBank offers ¥385 billion 2.84% straight corporate bonds due 2029 at par
By Mary-Katherine Stinson
Lexington, Ky., Dec. 1 – SoftBank Group Corp. announced the terms for its ¥385 billion 2.84% straight corporate bonds due 2029 (Japan Credit: A-), according to a notice on Thursday.
The bonds, to be sold at par, will have a public offering period in Japan from Dec. 2 to Dec. 15.
Also identified as Fukuoka SoftBank Hawks Bond, they are callable anytime at par.
The bonds are subject to the following covenants: a negative pledge clause; clause for transformation from unsecured to secured status; and net worth maintenance clause.
Mizuho Securities Co., Ltd., Daiwa Securities Co. Ltd., SMBC Nikko Securities Inc., Nomura Securities Co., Ltd., SBI Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Okasan Securities Co., Ltd., IwaiCosmo Securities Co., Ltd., Tokai Tokyo Securities Co., Ltd., Mito Securities Co., Ltd. and Nishi-Nippon City Tokai Tokyo Securities Co., Ltd. are the underwriters for the offering.
Proceeds will be used to replenish cash reserves as well as partially funding redemptions of two bonds maturing in April 2023.
SoftBank is a Tokyo-based holding company.
| Issuer: | SoftBank Group Corp.
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| Amount: | ¥385 billion
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| Issue: | Straight corporate bond
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| Maturity: | Dec. 14, 2029
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| Underwriters: | Mizuho Securities Co., Ltd., Daiwa Securities Co. Ltd., SMBC Nikko Securities Inc., Nomura Securities Co., Ltd., SBI Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Okasan Securities Co., Ltd., IwaiCosmo Securities Co., Ltd., Tokai Tokyo Securities Co., Ltd., Mito Securities Co., Ltd. and Nishi-Nippon City Tokai Tokyo Securities Co., Ltd
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| Trustee: | Aozora Bank, Ltd.
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| Coupon: | 2.84%
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| Price: | Par
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| Announcement date: | Dec. 1
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| Settlement date: | Dec. 16
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| Rating: | Japan Credit: A-
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