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| Softbank Bond Securitizes 60 Bil Yen for July-Sept Quarter |
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Tokyo, Sept 16, 2009 (IRG) - Softbank Corp. is likely to raise some 60 billion yen (US$643.92 million) by securitizing the receivables of its cellular phone service business in the July-September quarter. This is down roughly by 15 percent, from the amount generated in the April-June period because of its reduced funding needs after issuing bonds.
Softbank securitizes the receivables from mobile phone installment sales at Softbank Mobile Corp. to procure funds. The latest offering of receivables is up 12 percent from the previous quarter via bonds in the six-month period, after not issuing any such notes a year ago.
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