TOKYO -- SoftBank Group will issue dollar-denominated bonds to raise capital for the company's technology investment fund established with Saudi Arabia and other partners, a vehicle that may reach as large as $100 billion over the next five years.
The Japanese tech company's bonds are expected to raise 300 billion yen to 500 billion yen ($2.64 billion to $4.41 billion), taking advantage of low interest rates. The debt will be issued as perpetual subordinated hybrid bonds, which have no maturity date and act similarly to equity. The company will seek investors in Europe and Asia.
