Wednesday, March 6, 2019

"SoftBank Is Said to Raise $3 Billion Loan With Goldman, Mizuho"

That Monday Bloomberg headline reminded me of another from last month: "'Softbank Says Leverage Not a Problem'. Rating Firms Not Convinced" which of course reminded me of something else, in this case:
Evolution Going Great, Reports Trilobite 
http://www.fossilmall.com/Pangaea/patrilos/tr22/pft757b.JPG
Slowly inching his segmented exoskeleton across the sea floor, a local marine arthropod, class Trilobita, reported that Earth's natural evolution was "progressing quite nicely."

"Things are looking mighty fine," announced the prehistoric invertebrate, taking measure of his surroundings through a series of small, hexagonal eyelets located at the tip of his thorax. "Sulfurous gas seems to be bubbling up to the surface pretty good, and several single-cell organisms appear to be mutating at a rather steady pace. Also, just today, I developed the ability to roll into a small protective shell in order to avoid predators."

Added the trilobite, "Yup, this evolution thing is going great."...
Little did the Trilobite know...
Anyhoo, here's the March 4 Softbank story at Bloomberg:
SoftBank Group Corp.’s Vision Fund raised a $3 billion loan from banks including Goldman Sachs Group Inc. to help bridge funding gaps in deals, according to two people with knowledge of the matter.
Goldman Sachs along with Mizuho Financial Group Inc. led the so-called capital call facility, said the people, asking not to be identified because the information is private. Citigroup Inc., Samba Financial Group and Mitsubishi UFJ Financial Group Inc. were also among banks that participated, they said.
Capital call facilities provide short-term cash for deals until investors, who have committed money for them, respond to requests for funds. Saudi Arabia’s state-owned Public Investment Fund and Abu Dhabi’s Mubadala Investment Co. are among investors that have committed capital to the $100 billion Vision Fund....