BREAKING NEWS

BREAKING NEWS

SoftBank lines up $9 billion in loans for Vision Fund from banks - Bloomberg

Now Reading :

SoftBank lines up $9 billion in loans for Vision Fund from banks - Bloomberg

SoftBank lines up $9 billion in loans for Vision Fund from banks - Bloomberg
@ Copyright :
Toru Hanai(Reuters)
Text size Aa Aa

(Reuters) - Banks, including underwriters of SoftBank Group's <9984.T> initial public offering of its mobile unit, are finalising terms for a $9 billion loan to its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter.

Reuters reported earlier this month that SoftBank had picked up five investment banks, including units of Nomura Holdings Inc <8604.T> and Goldman Sachs <GS.N>, as lead underwriters for the mammoth initial public offering of its mobile-phone unit.

gi

The two lead underwriters are finalising terms for the loan, but details are still being worked out, the people told Bloomberg.

Mizuho Financial Group Inc <8411.T>, Deutsche Bank AG <DBKGn.DE> and the SMBC Nikko Securities Inc unit of Sumitomo Mitsui Financial Group Inc <8316.T> are also part of the underwriting team, Reuters reported.

SoftBank's Vision Fund will offer stakes in five of its holdings as collateral, according to the Bloomberg report, but the people did not specify which companies' stake would be used. https://bloom.bg/2PApe6Q

The $93-billion Vision Fund has investments in companies including ride-hailing firm Uber Technologies Inc [UBER.UL] and shared-office space firm WeWork.

Deutsche Bank declined to comment, while Nomura was not available for comment.

SoftBank, Goldman Sachs and SMBC Nikko Securities did not immediately respond to Reuters' requests for comment.

SoftBank's mobile IPO could raise about 3 trillion yen ($27 billion) in proceeds, making it the biggest IPO ever to list on the Tokyo Stock Exchange.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.