SoftBank Unit to Sell Yen Bonds as BOJ Policy Uncertainty Ebbs
- Yen corporate bond spreads tightened for six straight weeks
- BOJ left its yield-curve control policy unchanged last week
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SoftBank Corp., the mobile unit of Masayoshi Son’s Japanese conglomerate plans to sell about 50 billion yen ($352 million) of bonds, taking advantage of receding uncertainty about the Bank of Japan’s near-term monetary policy and improved sentiment in global credit markets.
The company, which is part of SoftBank Group Corp., will price the notes as soon as early July, according to an email Monday from SMBC Nikko Securities Inc., one of the deal managers. The proceeds from the offering will be used to repay debt, according to Takatoshi Mori, a spokesman for the issuer.