Rakuten Group seeks rare junk bond offering

The debt sale comes after Rakuten reported widening losses for the third quarter and as it faces the risk of a credit rating downgrade. — AFP

TOKYO: Rakuten Group Inc is marketing a US$500mil (RM2.28bil) bond to bolster the Japanese Internet firm’s struggling mobile unit, in a test of demand for a rare junk debt offering from the country and a borrower under financial strain.

Amazon.com Inc’s competitor in Japan is expected to price the two-year senior unsecured notes early next week, according to people with knowledge of the matter.