April 2, 2019 / 2:38 AM / 4 months ago

SoftBank Group plans $4.5 billion bond targeting retail investors

TOKYO, April 2 (Reuters) - SoftBank Group Corp said it will issue 500 billion yen ($4.49 billion) in bonds, its largest ever such issue, targeting Japan’s retail investors.

The six-year bonds will have a coupon of between 1.3 percent and 1.9 percent to be decided next week, SoftBank said in a regulatory filing on Monday. The proceeds will be used to cover redemptions.

Subscriptions will run from April 15-25, with 11 underwriters including Nomura Securities, the brokerage subsidiary of Nomura Holdings, and Daiwa Securities .

SoftBank has 700 billion yen of bonds maturing in the current financial year. The tech conglomerate decided on its largest ever such float after determining there was strong demand from retail investors. ($1 = 111.3500 yen) (Reporting by Sam Nussey; Editing by Sam Holmes)

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