According to reports, SoftBank Group is seeking a $10 billion, two-year loan to refinance the debt incurred from its investment in the U.S. artificial intelligence company OpenAI. The loan's interest rate is expected to be 275 basis points above the Secured Overnight Financing Rate (SOFR), with Mizuho Bank leading and acting as the bookrunner. Part of the loan proceeds will be used to repay the $40 billion bridge loan SoftBank secured earlier this year for its investment in OpenAI, which is set to mature on August 31. SoftBank is expected to invest nearly $65 billion in OpenAI in October.