TOKYO -- Rakuten Group has set a coupon rate of 10.25% for its upcoming $500 million bond issuance, as the e-commerce company doubles down on its bid to disrupt Japan's wireless communications market despite surging borrowing costs.
After discounts, the two-year unsecured notes will carry a yield of 12%. The issuance was rated BB+ by S&P Global on Nov. 16, placing it in the category of speculative, or junk, bonds.
