Softbank to launch USD 669m bond issue - report.

(ADPnews) - Jan 19, 2011 - Japanese telecom and Internet service provider Softbank Corp (TYO:9984) will place straight bonds worth JPY 55 billion (USD 669m/EUR 496m) with institutional investors on January 25, business daily Nikkei reported today.

In particular, Softbank will offer JPY 45 billion of five-year bonds with a 1.1% interest and JPY 10 billion of seven-year bonds with an interest of about 1.6%, the newspaper added.

The company will use the proceeds from the sale to redeem debt and to reduce interest payments, Nikkei said adding that with the new offering Softbank's bond issues for the year ending March 2011 would reach JPY 235 billion.

(JPY 100 = USD 1.216/EUR 0.902)