SoftBank Group (TYO:9984) has entered into a $40 billion bridge facility agreement to raise funds for its previously disclosed $30 billion follow-on investment in OpenAI.
The internet services company's shares fell more than 6% at the time of writing.
The facility, which matures in March 2027, involves five major banks - JPMorgan, Goldman Sachs, Mizuho Bank, Sumitomo Mitsui Banking, and MUFG Bank, according to a recent statement.
The funds will also be used for general corporate purposes, with SoftBank serving as a borrower alongside a wholly owned subsidiary.
SoftBank Group expects to repay the borrowings in stages by the maturity date using existing assets and other financing measures.
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