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SoftBank plans multibillion-dollar bond sale to lock in low rates

Move also seeks to decouple mobile unit from parent's debt ahead of IPO

SoftBank is preparing to list its domestic telecom business, the group's top earner, sometime this year. (Photo by Taichiro Sunaga)

TOKYO -- SoftBank Group will issue several billion dollars worth of bonds for institutional investors in a move that market sources say prepares for the listing of the Japanese company's domestic telecom business.

Proceeds from the sale of five- and seven-year bonds denominated in dollars and euros will go toward early redemption of debt issued in 2013 that was guaranteed by the mobile unit. With interest rates forecast to rise, raising funds now will lock in low borrowing costs.

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