Softbank plans benchmark dollar- and euro-denominated five- and seven-year notes

By Paul A. Harris

Portland, Ore., April 16 – Softbank Group Corp. is expected to place a benchmark-sized four-part offering of senior notes (Ba1/BB+) as early as Tuesday, according to a market source.

The deal is coming in tranches with five-year and seven-year maturities, to be issued in dollar-denominated and euro-denominated notes.

Included are:

• Dollar-denominated five-year notes with initial guidance in the 5½% area;

• Euro-denominated five-year notes with initial guidance in the 4 1/8% area;

• Dollar-denominated seven-year notes with initial guidance in the 6 1/8% area; and

• Euro-denominated seven-year notes with initial guidance in the 4 5/8% area.

Joint global coordinator Deutsche Bank will bill and deliver. Morgan Stanley and BofA Merrill Lynch are also joint global coordinators.

Daiwa, Mizuho, Nomura and SMBC Nikko are joint bookrunners.

The Tokyo-based multinational holding company plans to use the proceeds for the Regulation S only deal to repay debt.

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