SoftBank to borrow $4b from PE giant Apollo Global-led group

Photo: Bloomberg

SoftBank Group Corp is borrowing nearly $4 billion from a group led by private equity giant Apollo Global Management Inc, a source familiar with the matter said, as the conglomerate looks to increase cash on hand after its finances came under pressure.

The loan, to be secured by SoftBank‘s $40 billion Vision Fund 2, is expected to be funded by the end of the year, the source said.

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