SoftBank Group (SFTBY) has widened the lender group backing its $40 billion bridge loan for its OpenAI investment, bringing in 21 additional banks and institutions to spread the financing risk.
The new lenders were allocated roughly $7 billion of the facility, according to Bloomberg. First Abu Dhabi Bank, GIC and Standard Chartered each reportedly committed close to $1 billion, while the rest was divided among European, Japanese and Taiwanese banks.
SoftBank is using the unsecured loan to help fund its OpenAI commitment and for general corporate purposes. The facility matures in March 2027 and carries an initial margin of about 250 basis points over SOFR, implying an interest rate of roughly 6.14% at current levels.
The remaining $33 billion is still held by the original underwriters and senior lenders, although more of the debt could be syndicated later.