SoftBank Group has launched a bond sale worth about $11.15 billion to help fund its next investment in OpenAI.

The offering includes $10 billion in U.S. dollar-denominated senior unsecured notes and €1 billion in euro-denominated notes, according to a term sheet reported by Reuters.

The dollar bonds are divided into three maturities of 3.5, 5.5 and 7.5 years. The euro bonds will have maturities of four and six years.

SoftBank plans to use $10 billion of the proceeds to fund the third tranche of its follow-on investment in OpenAI, which is expected to close on October 1. The remaining funds will be used for general corporate purposes. The new bonds will also replace a previously arranged $10 billion bridge loan for the OpenAI investment.

The bonds are expected to be priced on September 24 and settled on September 29.

If completed at the planned size, the deal would become the largest non-financial corporate bond offering in Asia Pacific and Japan, surpassing 7-Eleven’s $10.93 billion bond sale in 2021. It would also rank among the 20 largest corporate bond deals globally this year, according to data cited by Reuters.

Fitch Ratings has assigned the proposed notes a BB+ rating. Fitch expects SoftBank’s debt to increase as it funds its investment commitments but said the company should maintain adequate liquidity and access to capital markets.

The latest bond sale comes as SoftBank continues to increase its investment in OpenAI and uses debt markets to finance its AI-related strategy.