Why Softbank (SFTBY) Stock Closed Higher Today

NEW YORK (TheStreet) -- Shares of Softbank Corp. (SFTBF)  closed up 1.63% to $34.63 on heavy trading volume today after the Japan-based wireless carrier earlier said that it plans to sell bonds for the first time after it abandoned talks to merge Sprint Corp. (S)  with T-Mobile US (TMUS)  ,Bloomberg reported.

The company is offering 400 billion yen ($3.9 billion) of five-year notes to individual investors, and will price the debt on August 28, it said in a filing to the Ministry of Finance today. The coupon will be in a range of 0.95% to 1.55%, according to the filing.

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SFTBY Chart SFTBY data by YCharts

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