SoftBank-Tied Deal Raises Nearly $1 Billion for US Data Centers

A data-center developer sold $999 million of junk bonds for a project leased to a SoftBank Group Corp. subsidiary, capping April’s surge of debt issuance to help fund artificial intelligence efforts amid some concerns that such spending won’t pay off.

SE Cosmos LLC priced five-year notes at a roughly 9% yield, according to a person with knowledge of the matter, who asked not to be identified because they’re not authorized to speak publicly.