SoftBank lines up backers for $9bn loan
The IPO’s top underwriters are finalising terms of the loan to the Vision Fund
London — SoftBank Group has lined up commitments for a loan of about $9bn for its massive Vision Fund, provided by banks, including arrangers of its Japanese wireless business’s initial public offering (IPO), people with knowledge of the matter said. The IPO’s top underwriters, which include Nomura Holdings and Goldman Sachs Group, were finalising terms of the loan to the Vision Fund, the people said. Stakes in about five of the investment fund’s holdings will be used as collateral, according to the people, who asked not to be identified because the information is private. Deutsche Bank, Mizuho Financial Group and Sumitomo Mitsui Financial Group (SMFG) were also among banks chosen to lead SoftBank’s wireless unit IPO, Bloomberg News reported last week. Details of the loan are still being worked out, and terms could change, the people said. The people did not specify which companies’ stakes would be used as collateral. Representatives at SoftBank, Nomura, Goldman Sachs, Deutsche Bank...
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