On Thursday, in a statement SoftBank Group Corp said it plans on raising $7.35 billion by selling U.S. dollar- and euro-denominated bonds sometime this month. The development marks the Japanese conglomerate’s first such foreign bond sale in three years.

SoftBank plans on selling dollar bonds worth $3.85 billion with maturities ranging from 3.5 years to 10 years, as well as euro bonds worth $3.5 billion (2.95 billion euros) with a similar duration.

SoftBank Group Corp has hiked its capital commitment to the second Vision Fund to $40 billion. Proceeds from the latest bond issuance would be used to repay debt and general corporate purposes.

The bonds were given a BB-plus junk rating by S&P Global Ratings.

($1 = 0.8438 euros)

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