SoftBank Group (TYO:9984) said it plans to issue hybrid bonds worth about 418.0 billion yen in Japan, mainly targeting individual investors, according to a Monday filing on the Tokyo Stock Exchange.
The 35-year bonds will carry a tentative interest rate of 4.65% to 5.25% for the first five years before switching to a floating rate. Proceeds will be used largely to fund early redemption of existing domestic hybrid notes due for a call in June.
The bonds are scheduled to be issued on April 22 and may be redeemed at the company's option from April 22, 2031.
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