SoftBank’s $40 Billion Loan for OpenAI Stake Draws More Banks

Banks that recently signed a $40 billion bridge loan with SoftBank Group Corp. for its investment in US tech giant OpenAI have attracted more lenders to the deal in syndication, people familiar with the matter said.

At least eight banks had submitted commitments as sub-underwriters as of late last week, according to the people, who asked not to be identified discussing private matters. It’s common for the initial lenders on a deal to distribute loans to a broader group. HSBC Holdings Plc., BNP Paribas SA and Intesa Sanpaolo SpA. are among the new joiners, the people said.

The development ...