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SoftBank’s $40 Billion Loan for OpenAI Stake Gets 21 New Lenders

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SoftBank’s $40 Billion Loan for OpenAI Stake Gets 21 New Lenders SoftBank Group Corp.’s $40 billion bridge loan for its investment in US tech giant OpenAI has attracted a new group of 21 lenders in a broader syndication phase, according to people familiar with the matter. The group, which adds to the number of financial institutions already on the deal, has been allocated around $7 billion of the facility in total, said the people, who asked not to be identified discussing a private matters....

SoftBank’s $40 Billion Loan for OpenAI Stake Gets 21 New Lenders SoftBank Group Corp.’s $40 billion bridge loan for its investment in US tech giant OpenAI has attracted a new group of 21 lenders in a broader syndication phase, according to people familiar with the matter. The group, which adds to the number of financial institutions already on the deal, has been allocated around $7 billion of the facility in total, said the people, who asked not to be identified discussing a private matters. Out of that, First Abu Dhabi Bank PJSC, GIC Pte and Standard Chartered Bank have each taken a nearly $1 billion share, said the people. The rest of the amount was allocated to some European, Japanese and Taiwanese banks, the people added.
SoftBank (ORG) New Lenders SoftBank Group Corp.’s (ORG) US (LOCATION) OpenAI (LOCATION) First Abu Dhabi Bank (ORG) GIC Pte (ORG) Standard Chartered Bank (ORG) European (ORG) Japanese (ORG) Taiwanese (ORG)
Originally published by Bloomberg Technology Read original →