A lot of red in Asian markets at the moment, down 1% (Shanghai - Shenzhen) to 5% (KOSPI).
From Reuters, July 1:
- SoftBank has reopened talks on $10 billion OpenAI margin loan, sources say
- SoftBank now offering corporate guarantee if OpenAI collateral proves insufficient, sources say
- Lenders in the consortium include Goldman Sachs, JPMorgan and Mizuho, sources say
SoftBank Group has reopened talks with a consortium of lenders for a $10 billion loan backed by its stake in OpenAI, after earlier attempts to secure a loan stalled over concerns about the difficulty of valuing private companies, two people familiar with the matter said.To make lenders more comfortable, the Japanese technology investor is offering to guarantee repayment of the loan, giving banks recourse to SoftBank if the OpenAI shares pledged as collateral lose value, the people said....
....MUCH MORE
...SoftBank also faces a March 2027 deadline to repay a $40 billion bridge loan that helped to finance its OpenAI investment. SoftBank has said that borrowing would likely be repaid “through the utilization of existing assets and other financing measures.”...
