Rakuten Launches $1.25 Billion Junk Bond Offering to Refinance Debt, Bolster Finances
• Rakuten Group Inc. launching $1.25 billion junk bond offering, its latest move to bolster finances • Comes after $1.8 billion bond sale in January that yielded 12.125%, a record for a listed Japanese company • Early pricing discussions for new bonds around 10% yield • Rakuten looking to combine financial units to promote collaboration and efficiency • Proceeds to redeem or repurchase debt due in 2024 and beyond