Funding
SoftBank Buys $11.1B in Junk Bonds for OpenAI Investment
SoftBank Group has raised $11.1 billion in junk bonds, the largest high-yield corporate bond issuance on record, to finance its $30 billion investment in OpenAI. The proceeds primarily cover the final $10 billion tranche of SoftBank’s investment in OpenAI, bringing its total investment to $64.6 billion. The deal reflects a strategy of managing existing obligations without dumping appreciated assets during a volatile market.