SoftBank Corp. Completes Consent Solicitation From Noteholders

December 9, 2016

S&C advised SoftBank Corp. in successfully completing a consent solicitation from the holders of its 4.5% notes due 2020 and 4.625% notes due 2020, to amend its indenture dated April 23, 2013, as amended on October 30, 2015. The amendment, effected through a supplemental indenture, conforms the terms of the indenture to those governing SoftBank Corp.'s notes issued in 2015 as to provide operational flexibility for the company. SoftBank Corp. also successfully completed a consent solicitation from the holder of its 6% notes due 2025, 5.375% notes due 2022, 5.25% notes due 2027, 4.75% notes due 2025 and 4% notes due 2022, to amend its indenture dated July 28, 2015. The amendment, effected through a supplemental indenture effected a technical change in the Events of Default provision relating to payment default and cross-acceleration.

The S&C team was led by Izumi Akai and Jesse Gillespie, along with Ingram Weber and Adam Harris. Chris Beatty provided valuable assistance. Jeffrey Hochberg and Saul Brander advised on tax matters.