SoftBank taking orders for $10 billion in bonds to fund OpenAI investment, term sheet shows

SoftBank ​Group Corp ​is taking investor orders ‌for a $10 ​billion dollar bond deal to help ‌fund its OpenAI investments, according to a term sheet reviewed by Reuters on ‌Wednesday. The Japanese conglomerate is aiming ‌to raise $1 billion in a 3-1/2-year bond, $4.5 billion in a 5-1/2-year bond and $4.5 billion ⁠in ​a ⁠7-1/2-year bond deal, the term sheet showed.

Potential ⁠investors have been told the ​price guidance for the 3-1/2-year bond is ⁠8.75% to 8.875%, the 5-1/2-year bond ⁠is 9.375% ​to 9.5% and the 10-1/2-year bond is 9.75% to ⁠9.875%, according to the term sheet. SoftBank did ⁠not ⁠immediately respond to a request for comment.