SoftBank Group Corp. Closes Largest Non-Investment Grade Perpetual Bond Offering by Any Issuer to Date

July 19, 2017

S&C client SoftBank Group Corp., a leading Japanese telecommunications and information technology company, closed a multi-tranche U.S. dollar-denominated perpetual subordinated hybrid notes offering. The Regulation S offering comprised two tranches of notes of $2.75 billion in non-call 6 resettable notes and $1.75 billion in non-call 10 resettable notes. The deal is the largest non-investment grade perpetual bond offering by any issuer to date.
The S&C team was led by Izumi Akai and Keiji Hatano, along with Jesse Gillespie and Pamela Tsao. Vanessa Blackmore, Anna Hagan and Emma Hardwick provided valuable support.