SoftBank raises funds for OpenAI stake

SoftBank has successfully secured a milestone bridge loan of $40 billion to finance its investment in the American tech company OpenAI. This marks one of the largest bridge financing deals in the Asia-Pacific region. Twenty-one financial institutions participated in the loan, including First Abu Dhabi Bank, GIC, and Standard Chartered, each funding approximately $1 billion, with the remaining amount distributed among European, Japanese, and Taiwanese banks. The remaining $33 billion of the loan is still held by the syndicate, with the possibility of adding additional lenders. This financing is part of a long-term process exceeding $60 billion aimed at supporting SoftBank’s investment in OpenAI, which recently announced a plan for an initial public offering valued at around $852 billion, with expected proceeds exceeding $100 million for the lenders from financing fees. The interest rate on the loan is approximately 6.14%, representing a spread of 250 basis points over the one-day secured funding rate.

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