SoftBank Group Corp has launched the ​sale of $10 billion and €1 billion ($1.15 billion) denominated senior unsecured notes to ‌fund its investment in OpenAI, a term sheet showed on Monday. The dollar-denominated notes are split into 3-1/2-year, 5-1/2-year and 7-1/2-year maturities, while the euro-denominated bonds are split into 4-year and ​6-year maturities. If completed at the planned size, the offering would be the ​largest Asia Pacific and Japan non-financial corporate bond deal on record, ⁠surpassing 7-Eleven Inc’s $10.93 billion sale in January 2021, LSEG data showed. It would ​also rank among the 20 biggest corporate bond deals globally so far this year, ​Dealogic data showed. SoftBank said it had no comment on the term sheet. Proceeds will be used to fund SoftBank’s $10 billion payment for the third tranche of its follow-on investment in OpenAI, ​which is expected to close on October 1, and for general corporate purposes, ​the term sheet said.

Full report : SoftBank Seeks Over $11 Billion in Junk Bonds for OpenAI Bet.