Masayoshi Son-led SoftBank Group is pursuing funding equivalent to about ₹84,000 crore. The proposed loan would run for two years and be priced at SOFR plus 275 basis points. SOFR, or the Secured Overnight Financing Rate, is a benchmark used for dollar borrowing.

Mizuho is acting as the mandated lead arranger and bookrunner, coordinating the deal and bringing lenders together. The borrowing forms part of SoftBank’s broader effort to invest close to $65 billion in OpenAI, the company behind ChatGPT, by October.

SoftBank intends to direct the proceeds towards repayment of a previous $40 billion bridge loan. Such borrowing provides temporary funding while a company arranges longer-term finance. It is also considering international bond sales of between $10 billion and $20 billion, alongside a potential $6.3 billion bond offering for Japanese retail investors.

The financing push comes amid concerns over credit risk and SoftBank’s heavy concentration in artificial intelligence. The group recently obtained a separate $10 billion loan secured against its OpenAI shares. That facility includes covenants, or contractual conditions, that could trigger early repayment. The report says technology companies worldwide have borrowed more than $410 billion this year for AI tools and data centres.