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02

SoftBank Default Risk Plunges as Alibaba Profits Exceed Net Debt

By Tony Seruga

Softbank CEO Masayshi Son SoftBank Corp. Chairman and CEO Masayoshi Son. Photographer: Kiyoshi Ota/Bloomberg

SoftBank Corp.’s default risk fell to a four-year low as the gains on its investment in China’s Alibaba Group Holding Ltd. exceeded its net debt.

The cost to insure SoftBank’s bonds against non-payment fell 12 basis points to 110 since the end of April, the lowest since June 2011, CMA data show. The Tokyo-based telecommunications giant had unrealized stock-investment profits of 10.5 trillion yen ($84 billion) as of today, including 9 trillion yen on its stake in China’s leading e-commerce company, exceeding net debt of 8.35 trillion yen…

SoftBank Default Risk Plunges as Alibaba Profits Exceed Net Debt

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