Apollo Global Management is in discussions with SoftBank Group to increase an existing loan from $5.4 billion to $9 billion to support the conglomerate's investment in OpenAI. The facility, secured by assets from SoftBank Vision Fund 2, was originally issued as a net asset value loan in 2021 and expanded to its current size last year. The final terms have not been finalized, and both parties declined to comment on the negotiations. SoftBank has committed $64.6 billion to OpenAI and previously secured a separate $10 billion loan in August using its OpenAI holdings as collateral. Amid these financing activities, SoftBank’s credit default swap prices have risen to a three-year high. The company is also currently engaging investors in New York regarding a potential issuance of $10 billion to $20 billion in overseas high-yield bonds.