SoftBank seeks $10 billion loan for OpenAI investment

SoftBank Group is seeking a $10 billion loan to help fund its investment in OpenAI, Bloomberg reported. The two-year facility may carry interest of about 275 basis points over SOFR, with Mizuho Bank as lead arranger, as SoftBank ramps up debt financing for its OpenAI bet. The proceeds could partly repay a $40 billion bridge loan raised earlier this year.