The fundraising will allow Rakuten to fully buy back its 10.25% senior notes and 3.546% senior notes due in 2024, which have a combined principal outstanding of $1.75 billion.

Rakuten announced tender offers to buy back the notes last Friday with a combined cap of $1 billion, but the company said on Tuesday it was "extending the offers to any and all outstanding notes of either series".

(Reporting by Anton Bridge; Editing by Savio D'Souza)