As Japan’s First Bond-type Issue, Softbank Corp Raises $800 Million

The first-ever bond-type shares of SoftBank Corp. of Japan were offered on the Tokyo Stock Exchange on Thursday, garnering a total of 120 billion yen ($799 million)

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The shares were trading at 4,035 yen as of 03:59 GMT, which is more than the 4,000 yen offering price.

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The money, according to SoftBank CEO Junichi Miyakawa, would be used to finance the company’s medium-term goals.

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SoftBank aims to enable the creation of Japanese domestic large language models (LLMs) through the use of such infrastructure.

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The telecom company announced on Tuesday that it had started using a computing platform in order to work on developing an LLM by 2024.

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The shares, which have an annual fixed dividend of 2.5% and are redeemable by SoftBank after five years

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