SoftBank's OpenAI funding gains 21 lenders
SoftBank Group has secured a bridge loan worth $40 billion to finance its investment in the American technology company OpenAI. The deal involves 21 new financial institutions, including banks such as First Abu Dhabi Bank, GIC, and Standard Chartered. This loan ranks among the largest bridge financings in Asia, with a significant portion allocated to European, Japanese, and Taiwanese banks. It is expected to generate over $100 million in fees for the arranging banks. The interest rate on the loan is approximately 6.14%, and the remaining $33 billion is anticipated to remain with the current lenders, with the possibility of involving additional lenders later. This deal comes at a time when OpenAI's investments have surpassed $60 billion, reaffirming SoftBank’s continued strong investment in the company despite increasing competition in the AI market.
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