(Bloomberg) — Rakuten Group Inc. is returning to the high-yield bond market with a $1.25 billion offering, in the latest move by the debt-laden Japanese online retailer to try to bolster its finances.
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The Tokyo-based conglomerate is considering selling dollar bonds, and the debt’s size and terms will be decided based on market demand, a company spokesperson said Tuesday. The five-year deal may price later this week, according to a person familiar with the matter.
Rakuten is also trying to make its organization more efficient, announcing Monday that it’s considering combining its financial units to promote collaboration.
The debt offering comes after a $1.8 billion sale in January of bonds that yielded 12.125%, a record for a listed Japanese firm issuing in US dollars. Early pricing discussions for the new issuance are for a yield in the mid-10% area, people with knowledge of the matter said.
With about ¥700…
