(Bloomberg) -- SoftBank Corp. will decide as early as Monday to raise as much as ¥120 billion ($809 million) via Japan’s first public offering of bond-type class shares, according to people familiar with the situation. Most Read from BloombergChinese Gold Buying Is Driving a Paradigm Shift in BullionStocks Flash Recession Warning as Trouble Spreads to IndustrialsWells Fargo Preps for Wealth Battle After $1 Billion TurnaroundBond Market Faces Quandary After Fed Signals It’s Almost DoneUS to Keep
The telecommunications unit of billionaire Masayoshi Son’s holding company will hold a board of directors’ meeting to approve sales of the new shares, said the people, who asked not to be identified because the information hasn’t yet been made public. The securities give their holders no voting rights nor the right to convert them to common stock.
Interest rates in Japan remain at rock-bottom levels even after their global counterparts have risen, and the country’s central bank last week tamped down speculation of any near-term hikes. That increases the need for investments with better returns, especially amid the risk that Japan’s ¥1,107 trillion pool of household savings may increasingly be drawn to higher-yielding investments abroad, further weighing on the yen.
SoftBank will likely announce details of the offering as early as Monday, including the actual amount, sale and pricing dates and underwriters, the people said. It will conduct a book-building process with bond and equity investors to decide the terms, and Nomura Securities Co. will be the lead underwriter for the deal, they said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meet Lachlan Murdoch, soon to be the new power behind Fox News and the Murdoch empireFor Lachlan Murdoch, this moment has been a long time coming. Assuming, of course, that his moment has actually arrived. On Thursday, his father Rupert Murdoch announced that in November he'll step down as the head of his two media companies: News Corp. and Fox Corp. Lachlan will become the chair of News Corp. while remaining chief executive and chair at Fox Corp., the parent of Fox News Channel. The changes make Rupert's eldest son the undisputed leader of the media empire his father built over
Read more »
Unifor deal with Ford has up to 22% raise, defined benefits, added engine outputUnifor’s tentative deal with Ford offers considerable immediate wage increases, pay hikes in each of the second and third years of the agreement, a $10,000 signing bonus and a compression of the previous wage grid.
Read more »
Canada's Ford autoworkers in line for minimum 15% pay raise over 3 years, union saysThe union representing Ford Motor Co. of Canada workers, who are voting on a new collective agreement, says the three-year tentative contract includes a 10 per cent wage hike immediately, followed by increases of two per cent and three per cent in the remaining years.
Read more »
Calgarians walk in support of veterans to raise awareness for mental-health initiativesCalgary veterans, both active and retired, walked alongside family members and friends for the sixth annual Canadian Walk for Veterans on Saturday at South Glenmore Park.
Read more »
UK interior minister to raise 'unsustainable' migration pressures during U.S. visitLONDON (Reuters) - British interior minister Suella Braverman will raise the
Read more »
UK interior minister to raise 'unsustainable' migration pressures during U.S. visitLONDON (Reuters) - British interior minister Suella Braverman will raise the
Read more »