Japanese ecommerce major Rakuten issues $1.8 billion of dollar-denominated 3-year senior notes

Japanese ecommerce conglomerate Rakuten Group said on Wednesday that it will issue $1.8 billion of U.S. dollar-denominated 3-year senior notes at an interest rate of 11.25%.

The fundraising will allow Rakuten to fully buy back its 10.25% senior notes and 3.546% senior notes due in 2024, which have a combined principal outstanding of $1.75 billion.

Rakuten announced tender offers to buy back the notes last Friday with a combined cap of $1 billion, but the company said on Tuesday it was "extending the offers to any and all outstanding notes of either series".