OREANDA-NEWS. SoftBank Corp. announced today that it has determined to reduce the maximum total amount of borrowing under the bridge loan agreement executed for the investment in Sprint Nextel Corporation.

The Company raised a total of JPY 370.0 billion through the issuance of the 41st unsecured straight corporate bond (issue date: March 12, 2013, total amount of issue: JPY 300.0 billion) and the 42nd unsecured straight corporate bond (issue date: March 1, 2013, total amount of issue: JPY 70.0 billion), announced previously on February 22, 2013. Out of the amount procured, the amount excluding estimated costs associated with the bond issuance of JPY 365.1 billion will be allocated to part of the investment in the business of Sprint. Therefore the equivalent amount will be deducted from the maximum total amount of borrowing under the Loan Agreement.