StoryFunding
SoftBank secures a $1.75B loan package to help fund its purchase of ABB Robotics
SoftBank raised a $1.75 billion loan package to help pay for its $5.4 billion purchase of ABB's industrial robotics business, part of its wider bet on AI-driven robotics. Banks enlarged the dollar portion thanks to strong US demand, while pricing landed at the expensive end of the initial range. ABB will focus on its electrification business after the sale.
- Arranged by BNP Paribas, Goldman Sachs, HSBC and Mizuho.
- Dollar tranche raised by $200 million to $800 million; euro tranche cut to €825 million (about $940 million).
- Priced at 4.25 percentage points over benchmark rates, sold at 98.5 cents on the dollar.