TOKYO Feb 6 Softbank Corp will issue
$3.2 billion in corporate bonds, the biggest ever by a
non-financial Japanese firm to retail investors, to convert part
of the $17.7 billion in short-term loans used to purchase Sprint
Nextel Corp to longer term debt, two sources familiar with
the matter said.
Softbank will issue the four-year bonds as early as March,
the sources told Reuters on condition they not be identified.
Softbank, Japan's third-largest mobile carrier, agreed last
year to buy a 70 percent stake in Sprint for $20.1 billion, in
the biggest foreign acquisition by a Japanese company to date.
The Japanese firm borrowed from Mizuho Financial Group Inc
, Sumitomo Mitsui Financial Group, Mitsubishi
UFJ Financial Group and Deutsche Bank AG
last December to fund most of the Sprint deal.