Sundry Photography
SoftBank Group’s (OTCPK:SFTBY) (OTCPK:SFTBF) investments in AI will reportedly be financed through a loan in which Mizuho Bank Ltd., Sumitomo Mitsui Banking Corp (NYSE:SMFG). and JPMorgan Chase & Co (NYSE:JPM) serve as lead underwriters.
The one-year $15 billion bridge loan, one of the biggest borrowings SoftBank has pulled off to date, will be financed by 21 banks and includes $1.35 billion from Mizuho, $1.25 billion from SMBC and $1 billion from JPMorgan, Bloomberg reported, citing people familiar with the matter.
It also includes a combined $950 million from HSBC Holdings Plc (NYSE:HSBC) and Barclays Plc (NYSE:BCS) and $850 million jointly from seven banks including Goldman Sachs (NYSE:GS), MUFG Bank (NYSE:MUFG) and Credit Agricole SA (OTCPK:CRARF), the report said.
SoftBank is pursuing funding to support a proposed $500 billion AI infrastructure project in the U.S., as it simultaneously advances major initiatives in robotics and semiconductors.