SoftBank (TYO:9434) has secured an additional $5 billion from lenders against shares of Arm Holdings, taking the Japanese investment company's total margin financing backed by the chip designer to $25 billion, Bloomberg reported Friday, citing people familiar with the matter said.
SoftBank renegotiated the facility and signed revised terms with creditors this month as it seeks funding for its expanding artificial intelligence investments, the people told Bloomberg.
The facility was secured by 769 million Arm shares, or 72% of the chip designer, as of May, Bloomberg noted. SoftBank owns nearly 90% of Arm.
SoftBank did not immediately respond to a request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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