Softbank to borrow $4.5 billion pledging Telco shares collateral


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Softbank to borrow $4.5 billion pledging Telco shares collateral

On Wednesday, the 19th of February 2020, the Japanese multinational investment conglomerate, SoftBank Group Corp. had issued a statement saying that the technology investment tycoon had been brewing off a plan to borrow as much as $4.5 billion or 500 billion Japanese yen from 16 foreign and domestic financial institutions by keeping one third of its Telco shares as collateral.

In point of fact, latest financing for the Japanese investment conglomerate came forth as a breather for SoftBank CEO Son as the company had to grapple with a number of nefarious investment outlooks on multiple fronts including SoftBank CEO and founder, Son’s unjustified affection towards loss-making tech start-ups likes of WeWork, Lyft Inc., Uber Technologies and a many more.

Besides, according to the Japanese investment conglomerate’s Wednesday’s (February 19th) statement, SoftBank was offering a 20 per cent stake of telco as collateral in exchange for the two-year loan, while the fresh debts which SoftBank was planning to capitalize on fleshing up its cash on hand for a gauge of general business purposes.

On top of that, latest financing for the Japanese investment conglomerate was brought in to light as its $100 billion vision fund had been scuffling to attract outside investors.