SoftBank’s loan for OpenAI stake gets new lenders


TOKYO: SoftBank Group Corp’s US$40bil bridge loan for its investment in US tech giant OpenAI has attracted a new group of 21 lenders in a broader syndication phase, say people familiar with the matter.

The group, which added to the number of financial institutions already on the deal, has been allocated around US$7bil of the facility in total, said the people, who asked not to be identified discussing a private matter.

Out of that, First Abu Dhabi Bank PJSC, GIC Pte and Standard Chartered Bank have each taken a nearly US$1bil share, said the people.

The rest of the amount was allocated to some European, Japanese and Taiwanese banks, the people added. The number of new lenders was calculated on the parent level of each institution as some lenders are joining across more than one branch.

The remaining US$33bil of the bridge loan is held by underwriters and senior lenders, but it may be syndicated further, the people said.

It is common for the initial lenders on a deal to distribute loans to a broader group.

The 12-month loan, signed in March, is one of the largest-ever bridge financings in the Asia-Pacific, and is set to generate more than US$100mil in fees for underwriters. — Bloomberg

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
SoftBank , OpenAI

Next In Business News

LSH Capital gets nod for Bandar Malaysia-Seri Kembangan expressway
Tokyo court dismisses IHH unit's claims against Daishi Sankyo
Techna-X appoints Tunku Kamariah as deputy chairman
Paragon Globe unit bags RM45.16mil data centre contract
Cape EMS unit partners Helios to distribute BESS in Europe, Asia Pacific
Alam Maritim operations continue as usual despite CEO facing ship charter rate fraud charges
Ringgit firmer against US$ ahead of CPI data
Gamuda JV delivers southern part of M1 Pacific Motorway extension to Raymond Terrace
S&P 500, Dow futures attempt recovery ahead of inflation report
Bursa Malaysia ends lower as widening Middle East conflict weighs on sentiment

Others Also Read