SoftBank has raised $11.1 billion through a high-yield bond issuance, marking the largest junk bond sale in corporate history. The previous record was held by Numericable, which issued approximately $10 billion in 2014.
The offering includes $10 billion in dollar-denominated notes split into three tranches: $1 billion at 8.625% for 3.5 years, $4.5 billion at 9.25% for 5.5 years, and $4.5 billion at 9.75% for 7.5 years.
The euro-denominated portion totals €1 billion, consisting of two €500 million tranches with yields of 7.125% over four years and 8% over six years.
The funds are primarily directed toward SoftBank's investment in OpenAI. The company expects its cumulative investment to reach $65 billion, securing a 13% stake by early October 2026.
This issuance serves as the third tranche of financing for the OpenAI deal, helping to refinance $40 billion in bridge loans secured earlier in 2026 and providing liquidity for future acquisitions.
