SoftBank turns to junk bonds to fund its next OpenAI check

Bloomberg, citing people familiar with the matter, says SoftBank Group is seeking the equivalent of more than $11 billion in what would be one of the biggest junk bond deals ever: $10 billion of dollar securities across three tenors, plus €1 billion ($1.1 billion) of euro debt across two maturities. The money will be used in part to fund a follow-on investment in OpenAI expected to close next month, the people said. They added that the deal may price on Thursday.