AsianFin -- SoftBank Group Corp. has priced a $1.3 billion hybrid bond with a coupon of 4.556%, surpassing Japan Airlines Co.’s perpetual subordinated notes and marking the highest coupon for a yen-denominated corporate bond in Japan this year.

The 35-year non-call five bond was issued at a spread of 340 basis points over Japanese government bonds, according to lead underwriter Daiwa Securities Co. Bloomberg calculations show the yield is roughly three times that of 10-year JGBs.