Morrison Foerster (“MoFo”) has advised SoftBank Group Corp. (“SoftBank”) (TYO: 9984) in relation to its US$11.1 billion multicurrency bond offering, the largest high-yield corporate bond issuance ever in the global capital markets.
As announced by SoftBank on September 24, 2026, proceeds from bond issuance will be used to fund the third and final US$10 billion tranche of its US$30 billion follow-on investment in OpenAI, with the remainder to be used for general corporate purposes.
The offering comprised US$10 billion of dollar-denominated senior notes across three tranches, due in 3.5 years, in 5.5 years, and in 7.5 years, alongside a further €1 billion of euro-denominated senior notes in two tranches maturing in four and six years. The transaction marks SoftBank’s high profile return to the Rule 144A market.
A cross-border and cross-practice team from MoFo advised SoftBank, led by Capital Markets partner Jesse Gillespie (Tokyo). The broader team included MoFo’s chair of the Investment Management Group Kelley Howes (Denver); English Law partner Ambarish Dash; Executive Compensation partner Rachel Faye Smith; Tax partner Matthew Lau (Hong Kong); Corporate of counsel Jumpei Seto; and Corporate associates Sophie Xiang, Hilary Lee and Benedikt Jaeger (all Tokyo).
Read more in SoftBank’s announcement.
