SoftBank Seeks Record Loan of Up to $40 Billion for OpenAI Stake [Yahoo! Finance]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: Yahoo! Finance
(Bloomberg) -- SoftBank Group Corp. is seeking a loan of as much as $40 billion to mostly help finance its investment in US tech giant OpenAI, according to people familiar with the matter, in what would be its largest-ever borrowing denominated solely in dollars. The bridge loan would have a tenor of about 12 months, according to some of the people, who asked not to be identified discussing private matters. Four lenders, including JPMorgan Chase & Co., will be underwriting the facility, the people said. Most Read from Bloomberg NYC Hudson Yards-Area Apartment Tower Sells for $129 Million Adding Up What Urban Highways Really Cost Supreme Court Preserves NY GOP-Held Congressional District NYC Congestion Pricing Program Can Continue, US Judge Rules How to Fireproof a Neighborhood Talks with banks are ongoing and details could change, the people added. Spokespeople for JPMorgan and SoftBank declined to comment. The potential size of the loan underscores SoftBank founder
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