Banks, including underwriters of SoftBank Group’s (9984.T) initial public offering of its mobile unit, are finalizing terms for a $9 billion loan to its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter.
SoftBank had picked up five investment banks, including units of Nomura Holdings Inc (8604.T) and Goldman Sachs (GS.N), as lead underwriters for the mammoth initial public offering of its mobile-phone unit.
The two lead underwriters are finalizing terms for the loan, but details are still being worked out, the people told Bloomberg.
Mizuho Financial Group Inc (8411.T), Deutsche Bank AG (DBKGn.DE) and the SMBC Nikko Securities Inc unit of Sumitomo Mitsui Financial Group Inc (8316.T) are also part of the underwriting team, Reuters reported.
SoftBank’s Vision Fund will offer stakes in five of its holdings as collateral, according to the Bloomberg report, but the people did not specify which companies’ stake would be used.
Deutsche Bank declined to comment, while Nomura was not available for comment.