FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

BERLIN (Reuters) – Japan’s Softbank Group Corp will buy a 5.6 percent stake in German payments company Wirecard by acquiring convertible bonds worth around 900 million euros ($1.01 billion), Wirecard said in a statement on Wednesday.

Wirecard said it shall issue convertible bonds with a term of five years exclusively to Softbank, convertible to 6,923,076 million ordinary shares at 130 euros per Wirecard share.

Reporting by Caroline Copley; Editing by Michelle Martin



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