SoftBank Group is in talks with multiple investment banks on a potential $10 billion to $20 billion bond sale, partly to refinance a $40 billion bridge loan used for its OpenAI investment, with an offering that could be denominated in dollars and euros and come as early as September. The junk-rated company, led by founder and CEO Masayoshi Son, plans to invest nearly $65 billion in OpenAI by October, funded in part with borrowings, and said it is considering various options to refinance the bridge loan though nothing has been finalized, including financing size. A successful deal at the top of the range would rank among the largest dollar bond offerings by an Asian issuer this year and serve as a barometer of investor risk appetite for AI-related credit, after corporations borrowed more than $410 billion year to date for data centers and other AI investments. SoftBank sold $3.6 billion of dollar- and euro-denominated bonds in April and is also considering a 144A format; separately, it is planning a record one trillion yen ($6.3 billion) retail bond sale in Japan expected to be priced on September 4.