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Bond Market News
Softbank Corp. Lining Up Debut Dollar Bond
June 27, 2025
The telecom unit of Softbank Group, Softbank Corp. has hired bankers for its debut dollar bond issuance. The company plans to raise $1bn via 5Y and 10Y bonds that have an expected rating BBB/BBB+ by S&P and Fitch. S&P rates the telecom unit two notches above the parent, Softbank Group (BB+), citing a stronger standalone credit profile of Softbank Corp. and their belief that “the parent would, if its finances deteriorated, be unlikely to engage in any negative material intervention in SoftBank Corp”. The company has hired Morgan Stanley, Citigroup Inc., JPMorgan Chase & Co., Mizuho Securities Co., and SMBC Nikko Securities Inc. as lead managers for the deal.
Softbank Group’s 7% 2031s are currently trading at 103.5 to yield 6.27%.
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