Refinancing of Acquisition Finance of Vodafone K.K.


SOFTBANK CORP. (hereafter “the Company”) announces that today it received commitment letters from 17 financial institutions for their participation in the syndicated loan aimed at refinancing the funds procured by SOFTBANK MOBILE Corp. (hereafter “SBM”) associated with the acquisition of Vodafone K.K. The interest of the syndicated loan is expected to be significantly reduced compared to SBM's previous borrowings, reflecting the improvement of the Company's credit.
There is no change in the SOFTBANK Group's target of reducing its consolidated net interest-bearing debt as of the end of March 2009 by half over three years (as of the end of March 2012), and to zero over six years (as of the end of March 2015).

Summary of the syndicated loan (tentative)

(1) BorrowerSOFTBANK CORP.
(2) Total amount of borrowingsJPY 550.0 billion
(3) Date of contractJuly 22, 2011
(4) Loan execution dateFirst: July 27, 2011
Second: October 27, 2011
(5) Repayment methodInstallment payment
(6) Final repayment dateMarch 27, 2015
(7) Participating financial institutions for the syndicationMizuho Corporate Bank, Ltd.
Sumitomo Mitsui Banking Corporation
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Credit Agricole CIB
Deutsche Bank AG, Tokyo Branch
and others. Total 17 institutions
(8) Collateral or warrantyNot applicable
(9) Use of proceedsRepayment of borrowing made by SBM
(to be repaid in full on October 27, 2011)
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