TMCnet News
Softbank Corp plans USD3.9bn bond sale [TeleGeography CommsUpdate](TeleGeography CommsUpdate Via Acquire Media NewsEdge) Bloomberg reports that Japan's SoftBank Corp, the wireless group controlled by billionaire Masayoshi Son, is planning to sell bonds worth JPY400 billion (USD3.9 billion) – its first such sale since it abandoned plans to amalgamate Sprint Corp with T-Mobile US. In a filing to the Ministry of Finance, the carrier confirmed its intention to price the debt on 28 August when it looks to sell five-year notes to individual investors with a coupon range of 0.95% to 1.55%. Industry watchers suggest that Son's decision to forge ahead with a debt sale indicates that his recent failure in the US market has not dampened his enthusiasm to raise funds to expand. Softbank-controlled Sprint broke off talks with T-Mobile just weeks ago amid regulatory concerns, leaving the Japanese-owned unit as the US's number three wireless carrier – but well behind its two larger rivals. (c) 2014 PriMetrica, Inc. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |