SoftBank preparing 300 bln yen issue of Japan retail bonds -source

TOKYO, April 29 Tue Apr 29, 2014 2:32am EDT

TOKYO, April 29 (Reuters) - Japanese mobile operator SoftBank Corp is preparing to issue 300 billion yen ($2.94 billion) in bonds to Japanese retail investors with a final decision on the issuance expected as early as Thursday, a source familiar with the matter said.

The funds will be used to repay loans and for Sprint Corp , the No.3 U.S. mobile carrier which SoftBank acquired last year, the source said. The source gave no details on the maturity or coupon for the bonds.

A SoftBank spokesman declined to comment. ($1 = 102.0350 Japanese Yen) (Reporting by Emi Emoto and Yoshiyasu Shida; Editing by Edmund Klamann)