The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← SoftBank

Softbank (Arm-backed margin loan raised from USD 20 billion to USD 25 billion, 2026-09) → Softbank

$25.0B — **SoftBank increased its Arm-backed margin loan from $20bn to $25bn, renegotiated with creditors this month, without reducing its Arm stake** — SOFR plus roughly 225bp and a 25bp credit-adjustment spread, maturing September 2027. Lenders reportedly offered about $7bn of demand ag

high confidence · as of 2026-09-18T00:00:00Z · about SoftBank

$25.0B — **SoftBank increased its Arm-backed margin loan from $20bn to $25bn, renegotiated with creditors this month, without reducing its Arm stake** — SOFR plus roughly 225bp and a 25bp credit-adjustment spread, maturing September 2027. Lenders reportedly offered about $7bn of demand ag

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the working

Basis

$25.0B — **SoftBank increased its Arm-backed margin loan from $20bn to $25bn, renegotiated with creditors this month, without reducing its Arm stake** — SOFR plus roughly 225bp and a 25bp credit-adjustment spread, maturing September 2027. Lenders reportedly offered about $7bn of demand ag

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