Softbank Group : Buy recommendation on the new SOFTBK notes due in 2029 and 2032
>The new EUR/USD notes were priced yesterday - SoftBank Group (SOFTBK, Ba3/BB+) has issued the equivalent of € 1.75bn in new EUR and USD-denominated bonds. Specifically, the group issued $ 400m of new 6.75% 07/2029 bonds, $ 500m of new 7% 07/2031 bonds, € 450m of new 5.375% 01/2029 bonds and 5.75% of new 07/2032 bonds. The yields are slightly tighter than the IPT for the USD tranches (around 7% for the five-year tranche and 7.25% for the 7-year tranche) and in line ...SoftBank Group is a holding company. Domestic Telecommunications business provides mobile communication services, mobile devices, broadband services to retail customers, and telecom services to corporate customers in Japan. Sprint business provides mobile communication services and fixed-line telecommunication services in the U.S. Yahoo Japan business operates Internet-based advertising and e-commerce business. Distribution business distributes mobile devices overseas, and sells software and mobile device accessories in Japan. ARM business designs microprocessor intellectual property and related technology. SoftBank Vision Fund & Delta Fund business is engaged in the investment activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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