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SoftBank shares rise on $1.86 billion debt offering as CEO talks up ‘super' AI

·1 min

SoftBank announced plans to issue euro and dollar-denominated bonds to pay down debt and prioritize investments in artificial intelligence. The Japanese holding company will issue approximately $900 million in US dollar-denominated bonds and 900 million euros worth of bonds. The bonds will have interest rates ranging from 5.4% to 7% per annum. The funds raised will be used for debt repayment and general corporate purposes. SoftBank also expressed intention to increase investments in AI companies.