SoftBank raises $4.8 billion from T-Mobile share sale, term sheet shows

By Scott Murdoch

SYDNEY, June 17 (Reuters) - Japan's SoftBank 9984.T raised $4.8 billion from a sale of 21.5 million T-Mobile TMUS.O shares at $224 each, according to a term sheet reviewed by Reuters.

The shares were offered in a price range of $224 to $228 each, the term sheet said. The final price was around a 3% discount to T-Mobile's closing price on Monday of $230.99.

SoftBank and T-Mobile did not immediately respond to requests for comment from Reuters.

SoftBank will remain T-Mobile's second largest shareholder after the stock sale, behind Deutsche Telekom DTEGn.DE which is the U.S. company's biggest investor.

The Japanese firm owned 7.52% of T-Mobile, or 85.36 million shares worth about $22.76 billion, according to LSEG data, ahead of the block trade.

SoftBank said in late 2023 it would receive T-Mobile shares worth about $7.59 billion at no additional cost after conditions set out in an agreement made as part of the merger of SoftBank's U.S. telco Sprint and T-Mobile were met.

Bloomberg News reported the share sale earlier.