SoftBank seeks another US$10 billion loan for OpenAI stake funding
Published Fri, Aug 28, 2026 · 03:37 PM
[TOKYO] SoftBank Group Corp is seeking a US$10 billion loan, as it looks for more funding to help refinance debt used for its investment in US tech giant OpenAI, according to people familiar with the matter.
The interest margin on the two-year facility would be around 275 basis point over the benchmark Secured Overnight Financing Rate, and Mizuho Bank is the mandated lead arranger and bookrunner, said the people, who asked not to be identified as the matter is private.
The loan would add to SoftBank’s flurry of recent debt financing activities tied to its bet on OpenAI, including a potential bond sale of as much as US$20 billion, despite concerns about growing credit risks in the artificial intelligence sector. SoftBank, founded and led by billionaire Masayoshi Son, is slated to invest close to US$65 billion in OpenAI by October.
Proceeds of the loan could partly be used to repay a US$40 billion bridge loan secured earlier this year for the OpenAI investments, the people said. Commitments are due Aug 31 and banks are already in talks to join, the people added.
The International Financing Review reported news of the deal earlier this week.
SoftBank is also looking at tapping the bond market for additional funding. It’s considering US$10 billion to US$20 billion offering to help refinance the bridge loan, and it’s planning a record ¥1 trillion (US$6.3 billion) retail bond sale in its home market for its investment commitments to OpenAI.
The company earlier this month also secured a US$10 billion loan backed by its OpenAI stake, which includes covenants that may require it to post cash or repay early.
SoftBank and Mizuho declined to comment.
SoftBank’s borrowings come as US tech firms are planning to pour trillions of dollars into data centres and other AI infrastructure in the coming years. Companies have already borrowed more than US$410 billion so far this year for such facilities and other AI investments in the bond markets alone. BLOOMBERG
