SoftBank shares rise on $1.86 billion debt offering as CEO talks up ‘super' AI [CNBC]
SOFTBANK GRP UNSP/ADR (SFTBY)
NASDAQ:AMEX Investor Relations:
softbank.jp/en/corp/irinfo/presentations
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Source: CNBC
The huge Japanese holding company said it will issue around $900 million in U.S. dollar-denominated bonds in two tranches, and 900 million euros ($962.8 million) worth of bonds, also in two tranches. These will have interest rates ranging from 5.4% to 7% per annum. SoftBank said the money raised will be used for “repayment of indebtedness and for general corporate purposes.” Its shares closed up 2.5% after news of the bond issuance. The raising of money via debt comes as SoftBank's overall financial losses have begun to narrow as it logs some successes, including the initial public offering of chip designer Arm Meanwhile, the company, which runs a massive technology investment arm called the Vision Fund, has also suggested it is looking to ramp up investments in artificial intelligence companies. In a rare public appearance this month, Masayoshi Son, founder and CEO of SoftBank, talked of a concept he called artificial super intelligence, or ASI. He said this refers to AI t
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