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- by finance.yahoo.com
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SoftBank to raise $4.1 billion in retail bond issuance
Japanese technology investment group SoftBank Group plans to raise 600 billion yen ($4.10 billion) by issuing bonds to retail investors, it said in a filing on Monday. It is SoftBank's largest ever bond issuance and the proceeds will be used to redeem existing bonds and to cover a portion of the outstanding payment on the acquisition of shares of chip designer Arm from its Vision Fund investment vehicle in August 2023, a SoftBank spokesperson said. SoftBank founder Masayoshi Son is known to take on debt to fund investments and last week SoftBank led a $40 billion funding round in ChatGPT operator OpenAI, of which SoftBank would contribute $30 billion.