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SoftBank's Z Holdings Could Sell $1.86 Billion in Bonds

By Donna Fuscaldo – May 26, 2020 at 3:35PM

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Z Holdings is a bright spot for SoftBank, reporting an increase in fiscal year 2019 profits thanks to stay-at-home orders, which boosted e-commerce sales.

Z Holdings, the Chinese e-commerce company owned by SoftBank (SFTB.Y 4.79%), is aiming to issue as much as $1.86 billion in new debt, with maturities ranging from 1.5 to ten years, reports Bloomberg

A hand holding yuan with stock charts in the background.

IMAGE SOURCE: GETTY IMAGES.

Z Holdings has been a bright spot for SoftBank amid the COVID-19 pandemic. While many investments in its Vision Fund have suffered steep losses, Z Holdings has benefited thanks to stay-at-home orders, reporting increased profits for fiscal year 2019.  

In an effort to shore up cash, earlier this year SoftBank announced it planned to sell more than $41 billion in assets. For the fiscal year ended March 31, the Vision Fund reported a loss of 1.9 trillion yen or close to $18 billion, due in large part to writedowns in its investments in WeWork and Uber Technologies. Among the assets SoftBank reportedly is considering selling are its stakes in T-Mobile and its wireless business in Japan

Donna Fuscaldo has no position in any of the stocks mentioned. The Motley Fool recommends Softbank Group, T-Mobile US, and Uber Technologies. The Motley Fool has a disclosure policy.

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Stocks Mentioned

SoftBank Group Corp. Stock Quote
SoftBank Group Corp.
SFTBF
$34.51 (-0.09%) $0.03
SoftBank Group Corp. Stock Quote
SoftBank Group Corp.
SFTB.Y
$18.39 (4.79%) $0.84
T-Mobile US, Inc. Stock Quote
T-Mobile US, Inc.
TMUS
$142.54 (2.62%) $3.64
Uber Technologies, Inc. Stock Quote
Uber Technologies, Inc.
UBER
$29.19 (9.24%) $2.47

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