SoftBank plans record $6.3bn retail bond sale in Japan

SoftBank will issue a ¥1 trillion (≈$6.3 bn) seven-year retail bond, the largest such issuance in Japan, to finance its more than $60 bn commitment to OpenAI and a $10 bn margin loan against its stake. The bonds, slated to price on 4 September with a 4.3-4.9% coupon, rely on household investors because banks balk at the credit rating and duration, leaving a $20 bn funding gap that may require offshore issuance.