SoftBank has seen its stock sink in recent weeks on worries about the liquidity of the heavily indebted company, as global financial markets are roiled by fears about the economic consequences of the pandemic. – EPA pic, March 23, 2020.
SOFTBANK Group said today it would sell up to US$41 billion in assets to finance a stock buyback, reduce debts and increase its cash reserves. In a statement, it said it would buy back US$18 billion of its stock, with the remaining money to be used on debt, bond buybacks and cash reserves, setting a four-quarter timetable for the transactions.
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Source: Loan Digest (loandigest.net)
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