The conglomerate issued $10 billion of dollar bonds and €1 billion of euro bonds to facilitate a scheduled $10 billion payment to OpenAI on October 1. Led by Citi and JPMorgan, the debt offering replaces a $10 billion bridge facility. Dollar bond maturities are 3.5, 5.5, and 7.5 years, while euro notes are 4 and 6 years, with pricing and settlement scheduled for September 24 and September 29.

The issuance is one of the largest junk bond sales ever and follows $15 billion in notes SoftBank sold earlier in 2026. Masayoshi Son’s group has committed nearly $65 billion to the ChatGPT creator, resulting in a roughly 13% stake after the latest payment. Borrowing costs for the firm have risen, with its 2031 dollar bond yield hitting 8.2% compared to 6.7% in January.