May 21 Softbank Corp is seeking to
raise about 400 billion yen ($3.90 billion) through a sale of
retail bonds to finance its bid for No.3 U.S. mobile phone
carrier Sprint Nextel Corp, the Nikkei reported.
The proceeds from the offering, which is expected to be
launched as early as next month, will also be used for redeeming
existing bonds, the newspaper said.
Daiwa Securities Co, Nomura Securities Co and Mizuho
Securities Co are expected to be among the five lead managers
for the planned bond sale, the Japanese daily reported.
SoftBank, which has proposed a $20 billion offer for a 70
percent stake in Sprint, is locked in a battle with billionaire
Charlie Ergen's Dish Network Corp to control the U.S.
Dish last week said a subsidiary would sell $2.5 billion in
debt to help finance its proposed $25 billion offer for Sprint.