Nikkei: SoftBank plans bonds to revive failed Google moonshot

SoftBank, which invested US$125mil (RM524.06mil) in Google’s Project Loon in 2019, is developing its own wireless technology that uses fixed-wing autonomous aircraft as a flying base station. — AFP

SoftBank Corp is planning to issue its first sustainability bonds as early as January to revive a project scrapped by Google parent Alphabet Inc aimed at beaming Internet service from high-altitudes, the Nikkei reported Tuesday.

SoftBank plans to raise more than 30bil yen (RM1.09bil) through the debt that will be used to fund projects linked to its high altitude platform station business, according to the report. Alphabet has transfered about 200 patents from its Loon project to the telecoms unit of SoftBank Group Corp, the Japanese company said in September.