SoftBank Group Corp has launched $10 billion of dollar denominated senior unsecured notes and €1 billion of euro denominated notes to fund its next investment in OpenAI, according to a term sheet reported by Reuters.

The proceeds will primarily finance SoftBank’s $10 billion payment for the third tranche of its follow-on investment in OpenAI, which is scheduled to close on October 1, 2026. A portion of the proceeds will also be used for general corporate purposes.

The dollar denominated bonds are structured across three maturities of 3.5 years, 5.5 years and 7.5 years. The euro denominated notes have maturities of four years and six years. The bond offerings are expected to be priced on September 24 and settled on September 29, according to the term sheet. Citigroup and JPMorgan are acting as lead bookrunners.

The new bond financing will replace a $10 billion bridge loan facility that SoftBank had previously arranged to support its OpenAI investment. SoftBank had established a larger $40 billion bridge facility in March 2026, of which $30 billion had been drawn. The company announced in September that it would prepay the outstanding $25.9 billion balance under that facility.

SoftBank's broader OpenAI commitment totals $30 billion under the follow-on investment announced in February 2026. The company has stated that $20 billion had been funded through the first two tranches, with the remaining $10 billion scheduled for October. Upon completion of the investment, SoftBank expects its cumulative investment in OpenAI to reach $64.6 billion, representing an ownership interest of approximately 13 percent.

The bond sale represents part of SoftBank's broader strategy of refinancing bridge funding with longer-term financing as it continues to deploy capital into artificial intelligence and related investments.