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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : Refinance of Acquisition Finance of Sprint and Arm

11/02/2017 | 01:20am EDT

Press Releases 2017

November 2, 2017
SoftBank Group Corp.

SoftBank Group Corp. ('SBG') announces that today it entered into a senior loan agreement for an amount of JPY 2.65 trillion mainly to refinance the acquisition loan for Sprint Corporation ('Sprint') in the U.S. and other financings which were executed in September 2013, and the bridge loan for the acquisition of Arm Holdings plc ('Arm') which was executed in July 2016. SBG also entered into a hybrid loan (the 'Hybrid Loan') agreement for an amount of JPY 84 billion as follows.

Senior Loan Hybrid Loan
1. Borrower SoftBank Group Corp.
2. Mandated Lead Arranger (MLA)
  • Mizuho Bank, Ltd.
  • Sumitomo Mitsui Banking Corporation
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • Crédit Agricole Corporate and Investment Bank
  • Sumitomo Mitsui Trust Bank, Limited
Mizuho Bank, Ltd.
3. Date of Execution November 2, 2017
4. Maximum amount of borrowing JPY 2,650 billion JPY 84 billion
5. Date of loan drawdown November 8, 2017
6. Main use of proceeds
  • Repayment of acquisition loan for Sprint, etc.
  • Repayment of bridge loan for Arm acquisition
  • General corporate purposes
General corporate purposes
7. Maturity September 30, 2024 November 8, 2044
8. Collateral None
9. Guarantee SoftBank Corp. None

The Hybrid Loan is eligible for 50% equity treatment from rating agencies (Japan Credit Rating Agency, Ltd. and Standard & Poor's Financial Services LLC.). It allows SBG an option to defer interest payments and has a longer maturity than senior bonds and loans while its payment priority can be considered as subordinated to senior indebtedness although it will be recorded as a borrowing in SBG's consolidated financial statements.

  • Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.

SoftBank Group Corporation published this content on 02 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 November 2017 06:19:01 UTC.


© Publicnow 2017
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Sales 2022 6 040 B 54 906 M 54 906 M
Net income 2022 1 310 B 11 906 M 11 906 M
Net Debt 2022 14 983 B 136 B 136 B
P/E ratio 2022 9,15x
Yield 2022 0,66%
Capitalization 11 411 B 104 B 104 B
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EV / Sales 2023 4,14x
Nbr of Employees 58 786
Free-Float 69,3%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 661,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 57,8%
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Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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