SoftBank’s OpenAI ambition is far too grand for banks

The Japan TimesCenterEN 1 min read 100% complete by Shuli RenOctober 26, 2025 at 03:00 AM

AI Summary

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SoftBank Group is issuing $2 billion in high-yielding dollar bonds to finance its investment in OpenAI. The hybrid bonds, which allow SoftBank to defer coupon payments and are subordinate to senior debt, have an initial price guidance ranging between 8.5% and 8.625%, with a maturity date in 2065 and a first reset date in 2035. This compares to the straight 2035 bond trading at only 6.8%. SoftBank is aiming to secure its equity stake in OpenAI, having led a funding round in April that valued the company at $300 billion with a promise to invest $30 billion by year-end; however, it has invested only $7.5 billion so far.

Key Topics & Entities

OpenAI ×270% Masayoshi Son 80% SoftBank Group ×4100%

Keywords

softbank group 100% openai investment 90% high-yielding dollar bonds 80% $30 billion commitment 70% $300 billion valuation 70% hybrid bonds 60% equity investment 60% 2065 bond issue 50% deferred coupon payments 50% first reset date in 2035 40%

Sentiment Analysis

Negative

Score: -0.30

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The Japan Times

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Center (0.00)

Far LeftCenterFar Right

Classification Confidence

85%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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softbank group openai investment high-yielding dollar bonds $30 billion commitment $300 billion valuation hybrid bonds equity investment 2065 bond issue deferred coupon payments first reset date in 2035

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