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SoftBank, the Vision of the Fund to borrow $4 billion at rings in Uber and two others: FT

SoftBank Corp. plaque is prepared at a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan, December 19, 2018. REUTERS/Issei Kato

(Reuters) – SoftBank, the Vision of the Fund is looking to borrow $4 billion, against its stake in Uber Technologies Inc, quick-to-go-public Slack Technologies Inc., and blood-testing company Guardant Health Inc., the Financial Times reported, citing people directly involved in the deal.

The fund is in discussions with banks, including Goldman Sachs Group Inc., to arrange for a loan against its holdings in the three Silicon Valley companies, the newspaper said, adding that if the value of this bet is above a certain threshold, the fund will be required to stump up more money.

SoftBank investment advisors (UK) Limited is the largest shareholder in both Uber, with a 12.88% interest, and Guardant Health, with a 30.74% stake, according to Refinitiv data.

Slack Technologies, the owner of a popular workplace instant messaging app, plans to make market debut on June 20.

Goldman Sachs, SoftBank, Uber, Slack and Guardant Health not immediately respond to a request for comment.

Reporting Sathvik N in Bengaluru, Additional reporting by Philip George; Editing by Supriya Kurane

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