(Bloomberg) -- SoftBank Group Corp. priced its biggest-ever yen bond, which was targeted at individual investors.
Billionaire Masayoshi Son’s technology conglomerate sold a 550 billion yen ($4.8 billion) seven-year subordinated note at 2.48%, according to an email by underwriter Nomura Securities Co.
SoftBank’s Vision Fund took a hit last year on a decline in value of public holdings such as Chinese ride-hailing giant Didi Global Inc. The cost of insuring the Japanese company’s debt against default rose last year, while its shares lost nearly 33%.
©2022 Bloomberg L.P.