SoftBank Group is offering benchmark bonds denominated in USD (fixed-rate tranches of 3.25 years, 5.5 years and 10 years) and in EUR (fixed-rate tranches of 4 years, 6 years and 8 years) rated BB+ by S&P. Proceeds will be used for foreign bond redemptions and a partial repayment of the $ 40bn bridge loan that was raised in March 2026. We see fair yields of 6.25% (4Y), 6.875% (6Y) and 7.25% (8Y) for the EUR tranches.
SoftBank Group is offering benchmark bonds denominated in USD (fixed-rate tranches of 3.25 years, 5.5 years and 10 years) and in EUR (fixed-rate tranches of 4 years, 6 years and 8 years) rated BB+ by S&P. Proceeds will be used for foreign bond redemptions and a partial repayment of the $ 40bn bridge loan that was raised in March 2026. We see fair yields of 6.25% (4Y), 6.875% (6Y) and 7.25% (8Y) for the EUR tranches.
Softbank Group has launched a benchmark multi-currency senior unsecured bond offering. The proposed transaction comprises RegS fixed-rate USD notes with 3.5-, 5.5- and 10-year tenors, along with EUR tranches with 4-, 6- and 8-year tenors. The proceeds are mainly earmarked for the refinancing of existing foreign-currency senior notes and partial repayment of a 2026 bridge loan facility (for the group's OpenAI investment). We believe the USD 3.5Y, 5.5Y and 10Y notes will price at c. 7.5%, 7.75...
In today's Morning Views publication we comment on developments of the following high yield issuers: Odido, Italmatch Chemicals, Borr Drilling, Benteler International, Bertrand Franchise, TAP, Lecta, TGS ASA, Air Baltic, Klockner Pentaplast, Selecta, Softbank Group
In our latest Asia Monthly, we discuss the impact of the Middle East conflict on our Asian Coverage Universe. In addition, we review the performance of major Asian credit indices and UST curve movements in March 2026. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of ...
In today's Morning Views publication we comment on developments of the following high yield issuers: Travelodge, Arrow Global, Bite, Vallourec, Morrisons, Kantar, Altice France (SFR), EnQuest Plc, Softbank Group, Rekeep, Grunenthal, Industria Macchine Automatiche
Following the attack on Iran by the US and Israel late last month which targeted key military sites and strategic infrastructure, as well as a retaliation by Iran, there have been structural shifts in the oil & gas and energy markets. In this report, we discuss the effects of these structural shifts, as well as the impact of the conflict on global supply chains and our coverage universe.
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