DOCSLIB.ORG

US Economic Growth Slows in Q2; Fed Likely to Cut Rates

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
US Economic Growth Slows in Q2; Fed Likely to Cut Rates $108BN FUND: Page 2 TRADE WAR : Page 3 Japan’s Soft Bank Huawei’s ties Group draws with FedEx, in Microsoft Flex fray on and Apple US-China row Saturday, July 27, 2019 Dhul-Qa’da 24, 1440 AH $26BN TAKEOVER: Page 8 US approves merger GULF TIMES of wireless operators BUSINESS T-Mobile and Sprint US economic growth slows in Q2; Fed likely to cut rates AFP Washington he American economy cooled in the second quarter of 2019 Tto a still-solid pace but offi cials Erdogan: High interest rates nevertheless slashed one of President are the biggest obstacle to Donald Trump’s favourite economic the Turkish economy. numbers, government data showed yesterday. Newly revised data covering the past Erdogan fi ve years now show the world’s largest economy actually slowed in the year welcomes after Trump and congressional Re- publicans pushed through a sweeping, $1.5tn tax cut. sharp The change dealt a sharp blow to Trump’s economic message and also Turkish highlighted how momentum had de- teriorated in the fi nal months of 2018 rate cut, when the Federal Reserve last raised interest rates in defi ance of intense pressure from Trump. urges more The central bank next week is widely expected to cut its benchmark lending policy rate, reversing December’s increase. The Commerce Department report- ed that GDP in the April-June quarter easing slowed to 2.1% from the fi rst three months of the year, down sharply from Reuters 3.1% growth in the fi rst quarter, but Istanbul that was better than expected, helped by strong consumer spending. Taken together the new data por- Turkish President Tayyip trayed an economy that enjoys robust Erdogan said yesterday that strength in some quarters but has be- the central bank’s decision gun to sputter worryingly in others, a day earlier to sharply cut even while the US is outshining slug- interest rates was “vital” gish economies in Europe, Japan and and added that the policy elsewhere. easing needs to continue at Analysts had expected second quar- a gradual pace toward year ter growth of just 1.8%, but the econ- end. omy got a boost from strong spending On Thursday the central on autos, food and clothing. bank cut its benchmark rate “Not bad,” Trump tweeted yester- to 19.75% from 24%, more day, “considering that we have the than expected. very heavy weight of the Federal Re- The move came less than serve anchor wrapped around our A container ship is seen at a port in Long Beach, California. The American economy cooled in the second quarter of 2019 to a still-solid pace but off icials nevertheless three weeks after Erdogan neck.” slashed one of President Donald Trump’s favourite economic numbers, government data showed yesterday. abruptly sacked the bank’s Federal spending also took its big- chief and replaced him with gest leap in a decade – with non-de- fewer autos, parts and factory equip- The fourth quarter of 2018 expand- greatest economic performance in 14 economy to 3% annual growth over a a deputy in a move that fence expenditure rising at the fastest ment. ed just 1.1%, down from the 2.2% re- years. A prior Commerce Department decade. alarmed investors. pace in 21 years – a one-time jolt when The ailing American manufacturing ported in March. estimate 2.9% average growth for all of Instead, the economy actually Speaking to provincial heads the government resumed paying em- sector also produced fewer non-du- As a result, growth between the 2018 compared to all of 2017 was un- slowed following the tax cuts from of his AK Party yesterday, ployees following the fi ve-week par- rable goods while retail and wholesale fourth quarter of 2018 and the fourth revised. 2.8% in 2017. Erdogan said high interest tial government shutdown at the start trade softened. quarter of 2017 – the measure of annu- But Trump in March specifi cally re- White House economic adviser Lar- rates are the biggest obstacle of the year. Declining travel exports, dominated al growth favoured by the White House jected this measure. ry Kudlow yesterday echoed Trump’s to the Turkish economy, But that was not enough to make up by tourists and foreign students, also and many economists – was chopped “The press tried to make it 2.9. I view that any sluggishness could be which tipped into recession for tumbling investment in factories weighed growth down for the quarter. down to 2.5% from 3%. Economists said, ‘it’s not 2.9,’” Trump said during blamed on the Fed and that the econ- after last year’s currency and commercial buildings, which sank In the revisions that stretch back say comparing the fourth quarter to speech to supporters in Ohio. omy was otherwise robust. crisis. more than 10% for the quarter, and to the fi nal quarter of 2013, the Com- fourth quarter of the prior year gives a “I said, ‘We’re going to break three.’ “I think, you know, to keep this “I’ve always expressed my falling income from software royalties merce Department said revised and more accurate picture of the economy. And we did.” thing going in the face of severe mon- discomfort over this (high and other intellectual property. newly available data showed October- The downward revision stripped In policy documents, the White etary tightening in 2017 and ‘18, seven interest rates) for years. Amid a global economic slowdown, December 2018 was much weaker than Trump of the banner 3% number he House claims the president’s econom- rate hikes, I think it’s almost a miracle Unfortunately, we could not weakening foreign demand for US ex- previously reported, notably spending had repeatedly hailed in public ap- ic agenda of tax cuts, slashed regula- that the economy is growing as rapidly convey this to central bank ports meant American factories sold on healthcare and autos. pearances and social media as the tion and trade reform will push the US as it is,” he told CNBC. governors of those times,” he said, adding the governors had used “stalling tactics”. Following the sacking of former governor Murat Oman’s 5-month budget deficit Cetinkaya, Erdogan said the decision was taken because Oman issues $3bn bonds out narrows to a third of 2018 level he did not follow instructions regarding monetary policy. The sacking has also led to Bloomberg 2017. Oman announced in June that renewed concerns about the of nearly $14bn in demand Dubai it’s imposing an excise tax that could central bank’s independence generate close to 100mn rials in under Erdogan, who has annual revenue. frequently describes interest Reuters 6.375% on Thursday. Oman issued supportive theme. We have a rising Oman’s budget deficit narrowed in The state-budget plan envisaged a rates as “evil”. Similar Dubai $750mn in 5-1/2 year and $2.25bn number of negatively yielding se- the first five months of the year as deficit of 9% for this year, or 2.8bn concerns contributed to a in 10-year bonds, a separate docu- curities and credits with attractive revenue increased, according to the rials, slightly more than last year’s sell-off in the lira, which lost ment showed. yield levels like Oman should get statistics service. actual deficit of 2.65bn rials. The nearly 30% last year in a full- man raised $3bn with its Sources previously said the a boost,” said Sergey Dergachev, a The shortfall was 358.4mn rials International Monetary Fund puts blown currency crisis. first foray in the interna- bonds would likely be $2bn in size manager of emerging market cor- ($931mn), down from 1.1bn rials in the shortfall in 2018 at about 9% of Inflation, which hit a 16-year Otional debt markets this and be used to cover part of Oman’s porate debt at Germany-based Un- the January-to-May period last year, gross domestic product and sees high in the wake of the crisis, year after receiving strong demand budget deficit, estimated at nearly ion Investment, while the deal was the sultanate’s National Center for it narrowing over the next several declined to just below 16% from global investors hunting for $7.3bn this year. marketed on Thursday. The initial Statistics and Information said in years before it begins to climb back in June, opening the door high returns in a low yield envi- Oman’s finances have been hurt price guidance put the new paper a report. Revenue surged more up from 2022, according to a July for the central bank to start ronment. by a slump in oil prices and the at a premium of around 30 basis than 15% from a year earlier, while report. easing for the first time in Investors made orders worth country is struggling to tame a points over Oman’s existing debt spending dropped 4.3%. Yields on Oman’s bonds due 2028 more than four years. nearly $14bn for papers offered at widening fiscal deficit. curve, said Dergachev. The figures, delayed for months, remain higher than lower-rated Erdogan repeated yesterday a final yield of 4.95% for the long The bond sale was seen as a test Citi, JPMorgan and Standard suggest the Gulf state is making Bahrain’s, which rallied last year his unorthodox view that five-year bonds, due in February of Oman’s ability to tap foreign debt Chartered have been hired to coor- headway in stabilising its public after the nation won a $10bn bailout inflation will come down as 2025, and 6% for the 10-year pa- markets after it was downgraded to dinate the transaction, which will finances.
Load more

Recommended publications
  • US-CHINA TRADE WAR Uneasy Truce
    Xi Jinping and China’s new era Japan Emperor’s enthronement WeWork’s debacle MCI(P) 087/05/2019 November 2019 INDEPENDENT • INSIDER • INSIGHTS ON ASIA Best New Print Product and Best News Brand in Asia-Pacic, International News Media Association (INMA) Global Media Awards 2019 US-CHINA TRADE WAR Uneasy truce A partial trade deal is on the anvil for the world’s two leading superpowers. Will it be the breakthrough for global trade? Or, will hostilities prevail? WE BRING YOU SINGAPORE AND THE WORLD UP TO DATE IN THE KNOW News | Live blog | Mobile pushes Web specials | Newsletters | Microsites WhatsApp | SMS Special Features IN THE LOOP ON THE WATCH Facebook | Twitter | Instagram Videos | FB live | Live streams To subscribe to the free newsletters, go to str.sg/newsletters All newsletters connect you to stories on our straitstimes.com website. Data Digest Airlines’ emissions rising faster than predicted FLYING FREQUENTLY IS DAMAGING THE trajectory, aviation emissions could roughly environment at a rate far higher than estimated, triple by 2050, by which time aviation emissions says a new report by the United Nations’ might account for 25 per cent of the global carbon International Civil Aviation Organisation (ICAO). budget, it adds. Greenhouse gas emissions from commercial Flights within the Asia-Pacific region emitted aviation totalled 918 million tonnes last year, the largest share of passenger transport-related accounting for 2.4 per cent of global CO2 CO2 at 25 per cent of the global total. The leading emissions from fossil fuel use and a 32 per cent countries in this list are China, Japan, India and increase over the past five years.
    [Show full text]
  • Press Release Contains Forward-Looking Statements Based on the Current Expectations of Searchlight Capital Partners, LP, Forgelight LLC and Grupo Televisa, S.A.B
    New Independent Directors Named to Univision Board World-Class U.S. Hispanic Business Leaders to Join Univision’s Newly Constituted Board as Independent Directors MIAMI, NEW YORK & MEXICO CITY – November 11, 2020 – Searchlight Capital Partners, LP (“Searchlight”), a global private investment firm and ForgeLight LLC (“ForgeLight”), an operating and investment company focused on the media and consumer technology sectors, and Grupo Televisa SAB (“Televisa”), a leading media company in the Spanish-speaking world, today announced the appointment of independent members to a reconstituted Board of Directors for Univision Holdings, Inc. (“Univision”), the leading U.S. Hispanic media company. The new Board will take effect upon the close of the previously announced acquisition of a majority ownership interest in Univision, expected to take place by the end of this year. The independent directors consist of four leading U.S. Hispanic business leaders who collectively possess a deep understanding of Univision’s U.S. Spanish-speaking audiences and the communities the company serves, backed by substantial financial and operational expertise across a variety of sectors. This new Board, after closing, will help oversee Univision’s strategy as it builds on recent content and programming momentum, expands its portfolio of advertising products, substantially enhances its digital presence, and features best-in-class content through its continued partnership with Televisa. The new directors include: • Marcelo Claure, Chief Executive Officer of Softbank Group International and Chief Operating Officer of SoftBank Group Corp; • Oscar Munoz, Executive Chairman of United Airlines Holdings, Inc.; • María Cristina “MC” González Noguera, Senior Vice President of Global Public Affairs for The Estée Lauder Companies; and • Gisel Ruiz, a 26-year veteran of Walmart Inc., having served most recently as Chief Operating Officer of Sam’s Club.
    [Show full text]
  • Owner Operated Companies July 12, 2021
    OUR VIEWS ON ECONOMIC AND OTHER EVENTS AND THEIR EXPECTED IMPACT ON INVESTMENTS JULY 12, 2021 The views of the Portfolio Management Team contained in this report are as of July 12, 2021 and this report is not intended to provide legal, accounting, tax or specific investment advice. Views, portfolio holdings and allocations may have changed subsequent to this date. This research and information, including any opinion, is compiled from various sources believed to be reliable but it cannot be guaranteed to be current, accurate or complete. It is for information only, and is subject to change without notice. The contents of this Newsletter reflect the different assumptions, views and analytical methods of the analysts who prepared them. OWNER OPERATED COMPANIES the end of 2021. Clearco has hired two new executives to lead product and technology development in the last two months, including Katrina SoftBank Group Shackelford, a former director of product at Amazon.com Inc. Clearco Corp. (“SoftBank”) is part of a growing list of Canadian tech companies that have achieved - A SoftBank unicorn status this year. In the first quarter, Canadian companies raised Group Corp. fund is leading $2.5 billion in venture capital funding, according to KPMG. a US$215 million investment SoftBank - SoftBank Group Corp. plans to invest an additional US$5 in Clear Finance Technology billion in Latin American companies, according to people familiar with Corp a Canadian growth capital the matter. The board is close to approving the new capital allocation, start-up that provides money which would double its commitment to the region to $10 billion, one of to small online businesses.
    [Show full text]
  • Acquisition of Brightstar Corp. Shares
    October 19, 2013 SoftBank Corp. Acquisition of Brightstar Corp. Shares SoftBank Corp. (“SoftBank”) announced that it has entered into agreements yesterday (October 18, 2013, JST/EDT) with the major shareholders (the “Sellers”*1) of mobile device distributor Brightstar Corp. of the United States (“Brightstar”) pursuant to which SoftBank will acquire Brightstar shares (the “Transaction”). In the Transaction, SoftBank will invest a total of USD 1.26 billion (approx. JPY 124.7 billion*2) into certain U.S. subsidiaries. Such U.S. subsidiaries will purchase 100% of the shares of Brightstar for approximately USD 1.105 billion (approx. JPY 109.4 billion*2) cash consideration, and U.S. subsidiary shares as noted in 3. (5) below. As a result of the Transaction, SoftBank will indirectly own approximately 57% of the voting power, and common stock, of the shares of a U.S. subsidiary that will own 100% of Brightstar, making Brightstar a subsidiary of SoftBank. Furthermore, SoftBank plans to gradually exercise the Warrant (defined below) to increase its ownership in the U.S. subsidiary to approximately 70% of the voting power, and common stock, over the five year period following step (1) of “2. Transaction Method.” [Note] *1 Including Mr. Marcelo Claure and LG BRIGHTSTAR, L.P., as listed in “6. About the Shareholders whose Shares will be Acquired.” [Note] *2 Converted at USD = JPY 99. 1. Reason for Transaction Brightstar is the world’s largest specialized wireless distributor*3 and a leading provider of diversified services focused on enhancing the performance and results of the key participants in the wireless device value chain: manufacturers, operators and retailers.
    [Show full text]
  • Printmgr File
    IMPORTANT NOTICE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO U.S. PERSONS OR OTHERWISE THAN TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the attached offering memorandum. You are advised to read this disclaimer carefully before accessing, reading or making any other use of the attached offering memorandum. In accessing the attached offering memorandum, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access. CONFIRMATION OF YOUR REPRESENTATION: You have accessed the attached document on the basis that you have confirmed your representation to the issuer and to Deutsche Bank AG, London Branch, Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc, Mizuho International plc, Mizuho Securities Asia Limited, Crédit Agricole Corporate and Investment Bank, Merrill Lynch International, J.P. Morgan Securities plc, UBS AG Hong Kong Branch, Barclays Bank PLC, BNP Paribas, Credit Suisse (Hong Kong) Limited, Daiwa Capital Markets Europe Limited, ING Bank N.V., Singapore Branch, Nomura International plc and SMBC Nikko Capital Markets Limited (together, the “Initial Purchasers”) that (1) you are not a U.S. Person, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or a dealer or professional fiduciary acting
    [Show full text]
  • Printmgr File
    OFFERING MEMORANDUM STRICTLY CONFIDENTIAL NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA OR TO U.S. PERSONS SoftBank Group Corp. $2,750,000,000 6.000% Undated Subordinated NC6 Resettable Notes $1,750,000,000 6.875% Undated Subordinated NC10 Resettable Notes Issue Price: 100.00% The $2,750,000,000 6.000% Undated Subordinated NC6 Resettable Notes (the “NC6 Notes”) and the $1,750,000,000 6.875% Undated Subordinated NC10 Resettable Notes (the “NC10 Notes” and, together with the NC6 Notes, the “Notes” and each, a “Tranche,” the terms and conditions of both Tranches being together, the “Conditions”)) will be issued by SoftBank Group Corp. (the “Company”) on or about July 19, 2017 (the “Issue Date”). The Notes will bear interest on their principal amount from (and including) the Issue Date to (but excluding) July 19, 2023 (in the case of the NC6 Notes) and July 19, 2027 (in the case of the NC10 Notes) at a rate of 6.000 percent and 6.875 percent per annum respectively. Thereafter, the prevailing interest rate on the NC6 Notes and the NC10 Notes shall be 4.226 percent and 4.854 percent per annum, respectively, above the 5 Year Swap Rate for the relevant Reset Period (as defined in the relevant Conditions) and from (and including) July 19, 2038 (in the case of the NC6 Notes) and July 19, 2042 (in the case of the NC10 Notes) (each, a “Second Step-up Date”) the applicable interest rate on the NC6 Notes and the NC10 Notes shall be 4.976 percent and 5.604 percent per annum, respectively, above the 5 Year Swap Rate for the relevant Reset Period.
    [Show full text]
  • ANNUAL REPORT 2019 Softbank Group Corp
    ANNUAL REPORT 2019 SoftBank Group Corp. ANNUAL REPORT 2019 Disclaimers to be correct, and actual results, performance or achievements could User Guide materially differ from expectations. Persons viewing this annual report • This annual report provides relevant information about the Group and This PDF has various features to make it easy to use and to search for should not place undue reliance on forward-looking statements. We does not constitute or form any solicitation of investment including any information. It also contains links to external websites to allow you to undertake no obligation to update any of the forward-looking statements offer to buy or subscribe for any securities in any jurisdiction. refer to external information easily. contained in this annual report or any other forward-looking statements • This annual report contains forward-looking statements, beliefs or opinions we may make. Past performance is not an indicator of future results and regarding the Group, such as statements about the Group’s future the results of the Group in this annual report may not be indicative of, and business, future position and results of operations, including estimates, Contents are not an estimate, forecast or projection of our future results. forecasts, targets and plans for the Group. Without limitation, forward- • We do not guarantee the accuracy of information in this report regarding Click to go to the first page of each category. looking statements often include the words such as “targets”, “plans”, companies (including, but not limited to, those in which SoftBank Vision SoftBank Group Corp. “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “will”, Towards the AI Era Essential Information Growth Strategy Management Organization Financial Section Corporate Information Fund has invested) other than the Group which has been quoted from ANNUAL REPORT 2019 006 “may”, “should”, “would”, “could” “anticipates”, “estimates”, “proj- public and other sources.
    [Show full text]
  • In the Court of Chancery of the State of Delaware
    EFiled: Apr 07 2020 08:04AM EDT Transaction ID 65559679 Case No. 2020-0258- IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE THE WE COMPANY, ) ) Plaintiff, ) ) v. ) C.A. No. ___________ ) SOFTBANK GROUP CORP. and ) SOFTBANK VISION FUND (AIV M1) ) L.P., a Delaware limited partnership, ) ) Defendants. ) VERIFIED COMPLAINT Plaintiff The We Company (the “Company”), acting by and under the direction of the Special Committee (the “Committee”) of the Company’s Board of Directors (the “Board”), by and through its undersigned counsel, for its complaint against Defendant SoftBank Group Corp. (“SBG”) and SoftBank Vision Fund (AIV M1) L.P. (“Vision Fund” and, with SBG, “SoftBank”), upon knowledge as to itself and information and belief as to all other matters, alleges as follows: NATURE OF THE ACTION 1. On October 22, 2019, SBG, its affiliate Vision Fund, the Company, We Holdings LLC, and the Company’s co-founder and former CEO Adam Neumann entered into a Master Transaction Agreement, as amended on December 27, 2019 (the “MTA”).1 The MTA provided for a series of transactions, including a debt financing arrangement and the accelerated funding of an existing $1.5 billion warrant agreement among SoftBank and the Company. 2. The centerpiece bargained-for benefit to be received by the Company’s minority stockholders in the MTA was a tender offer, through which SoftBank would purchase up to $3 billion worth of the Company’s stock held by the Company’s stockholders (the “Tender Offer”). The Committee viewed the Tender Offer as a critical component of the MTA because it provided much-needed liquidity to the Company’s minority stockholders—many of whom are longtime Company employees who depended upon receiving value for their shares.
    [Show full text]
  • Owner Operated Companies March 1, 2021
    OUR VIEWS ON ECONOMIC AND OTHER EVENTS AND THEIR EXPECTED IMPACT ON INVESTMENTS MARCH 1, 2021 The views of the Portfolio Management Team contained in this report are as of March 1, 2021 and this report is not intended to provide legal, accounting, tax or specific investment advice. Views, portfolio holdings and allocations may have changed subsequent to this date. This research and information, including any opinion, is compiled from various sources believed to be reliable but it cannot be guaranteed to be current, accurate or complete. It is for information only, and is subject to change without notice. The contents of this Newsletter reflect the different assumptions, views and analytical methods of the analysts who prepared them. OWNER OPERATED COMPANIES $42.52 billion for the year, both reflecting large gains from its stocks. Operating income, which Buffett considers a more accurate measure of Ares Management performance, fell 9% for the year to $21.92 billion. The stock buybacks Corporation – have continued in 2021, with Berkshire repurchasing more than $4 plans to buy billion of its own stock. It ended 2020 with $138.3 billion of cash. Buffett 60% of the private markets also said Berkshire’s annual meeting will be held in Los Angeles rather business of AMP Limited’s than Omaha, allowing 97-year-old Vice Chairman Charlie Munger, a asset management arm for Californian, to re-join him and answering about 3 and a half hours of AU$1.35 billion (US$1.06 shareholder questions. Vice Chairmen Greg Abel, 58, and Ajit Jain, 69, billion), weeks after scrapping who are widely considered frontrunners to succeed Buffett as chief a bid for all of the Australian executive, will also be available to answer questions.
    [Show full text]
  • Notice of the 38Th Annual General Meeting of Shareholders (April 1, 2017 to March 31, 2018, “FY2017” Or “This Fiscal Year”)
    This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between the translated document and the Japanese original, the original shall prevail. SoftBank Group Corp. assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation. Notice of the 38th Annual General Meeting of Shareholders (April 1, 2017 to March 31, 2018, “FY2017” or “this fiscal year”) Information of the Meeting Date and Time: 10:00 AM, Wednesday, June 20, 2018 (Reception will start at 9:00 AM) Venue: Hall A, Tokyo International Forum 5-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo Agenda of the Proposal 1: Appropriation of Surplus Meeting: Proposal 2: Election of Twelve Directors Proposal 3: Revision of Remuneration Paid to Directors Proposal 4: Issuance of Stock Acquisition Rights as Stock Options th Table of Contents Notice of the 38 Annual ■ General Meeting of 2 Shareholders Reference Materials for the ■ Annual General Meeting of 6 Shareholders ■ Business Report 30 Consolidated Financial ■ 61 Statements Non-consolidated Financial ■ 63 Statements ■Audit Reports 65 SoftBank Group Corp. Stock code: 9984 I am pleased to notify you of the 38th Annual SBG expects the combined company to be a General Meeting of Shareholders. force for positive change in mobile In FY2017, SoftBank Group Corp. (“SBG”) communications, video, and broadband set out its global strategy and pressed ahead markets in the U.S., and that it will disrupt the with a full-fledged transformation to a marketplace and lay the foundation for U.S.
    [Show full text]
  • Printmgr File
    OFFERING MEMORANDUM STRICTLY CONFIDENTIAL NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA OR TO U.S. PERSONS SoftBank Group Corp. $1,000,000,000 6% Senior Notes due 2025 $1,000,000,000 5 3⁄8% Senior Notes due 2022 €500,000,000 5 1⁄4% Senior Notes due 2027 €1,250,000,000 4 3⁄4% Senior Notes due 2025 €500,000,000 4% Senior Notes due 2022 SoftBank Group Corp., which changed its name from SoftBank Corp. on July 1, 2015, (the “Company”) is offering $1,000,000,000 aggregate principal amount of its 6% Senior Notes due 2025 denominated in U.S. dollars (the “2025 Dollar Notes”), $1,000,000,000 aggregate principal amount of its 5 3⁄8% Senior Notes due 2022 denominated in U.S. dollars (the “2022 Dollar Notes” and, together with the 2025 Dollar Notes, the “Dollar Notes”), €500,000,000 aggregate principal amount of its 5 1⁄4% Senior Notes due 2027 denominated in euro (the “2027 Euro Notes”), €1,250,000,000 aggregate principal amount of its 4 3⁄4% Senior Notes due 2025 denominated in euro (the “2025 Euro Notes”) and €500,000,000 aggregate principal amount of its 4% Senior Notes due 2022 denominated in euro (the “2022 Euro Notes”, together with the 2027 Euro Notes and the 2025 Euro Notes, the “Euro Notes”, and, together with the Dollar Notes, the “Notes”). The maturity date of the 2027 Euro Notes is July 30, 2027, the maturity date of the 2025 Euro Notes and the 2025 Dollar Notes is July 30, 2025, and the maturity date of the 2022 Euro Notes and the 2022 Dollar Notes is July 30, 2022.
    [Show full text]
  • Correction of Notice of the 39Th Annual General Meeting of Shareholders
    June 4, 2019 To All SoftBank Group Corp. Shareholders: Masayoshi Son Chairman & CEO SoftBank Group Corp. 1-9-1 Higashi-Shimbashi Minato-ku, Tokyo Correction of Notice of the 39th Annual General Meeting of Shareholders SoftBank Group Corp. announces the following correction to “Notice of the 39th Annual General Meeting of Shareholders” which SoftBank Group Corp. sent on June 4, 2019 as below: 1. Section corrected Page 10 of “Notice of the 39th Annual General Meeting of Shareholders” Reference Materials for the Annual General Meeting of Shareholders Proposal 2: Election of Twelve Board Directors Biography, titles, responsibilities and significant concurrent positions of Mr. Marcelo Claure (candidate No.3) 2. Correction made to the disclosed information Those corrected are underlined on the following: <Before correction> June 1995 Owner, USA Wireless, Inc Oct. 1996 President, Small World Communications, Inc. Sept. 1997 Founder, Chairman & CEO, Brightstar Corp. Sept. 2008 Owner, Bolivar Administracion, Inversiones Y Servicios Asociados S.R.L. (to present) Jan. 2014 Member, Sprint Corporation Board of Directors Feb. 2014 Founder and Director, Miami Beckham United (to present) Aug. 2014 President & CEO, Sprint Corporation Jan. 2015 Member, CTIA Board of Directors Jan. 2017 Chairman, CTIA Board of Directors June 2017 Board Director, SBG Mar. 2018 Director, Arm Limited (to present) May 2018 Executive Chairman, Sprint Corporation (to present) June 2018 Board Director, Executive Vice President & COO, SBG (to present) <After correction> June 1995 Owner, USA Wireless, Inc Oct. 1996 President, Small World Communications, Inc. Sept. 1997 Founder, Chairman & CEO, Brightstar Corp. Sept. 2008 Owner, Bolivar Administracion, Inversiones Y Servicios Asociados S.R.L.
    [Show full text]