Softbank looks for $2.76bn loan
November 25, 2019
Softbank, fresh from its $9 billion bail-out of WeWork, which followed a $10 billion investment in the company, is reported to be seeking a $2.76 billion loan from three Japanese banks.
The banks Mizuho, Mitsubishi and Sumitomo Mitsui are, reportedly, concerned about lending to Softbank because some have lent to Softbank before and the banks have also invested in Softbank’s Vision Fund which took a hit in value from WeWork’s aborted IPO.
Softbank is said to have a $100 billion stake in Alibaba – but doubts have been raised about how potentially liquid that investment might be.
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