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The Economic Times

Technology

SoftBank seeks another $10 billion loan for OpenAI stake funding

OpenAI SoftBank Mizuho

SoftBank Group Corp. is seeking a $10 billion loan, as it looks for more funding to help refinance debt used for its investment in US tech giant OpenAI, according to people familiar with the matter.

The interest margin on the two-year facility would be around 275 basis point over the benchmark Secured Overnight Financing Rate, and Mizuho Bank Ltd. is the mandated lead arranger and bookrunner, said the people, who asked not to be identified as the matter is private.

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