FILE PHOTO: People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo

(Reuters) - Banks, including underwriters of SoftBank Group's 9984.T initial public offering of its mobile unit, are finalizing terms for a $9 billion loan to its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter.

Reuters reported earlier this month that SoftBank had picked up five investment banks, including units of Nomura Holdings Inc 8604.T and Goldman Sachs GS.N, as lead underwriters for the mammoth initial public offering of its mobile-phone unit.

The two lead underwriters are finalizing terms for the loan, but details are still being worked out, the people told Bloomberg.

Mizuho Financial Group Inc 8411.T, Deutsche Bank AG DBKGn.DE and the SMBC Nikko Securities Inc unit of Sumitomo Mitsui Financial Group Inc 8316.T are also part of the underwriting team, Reuters reported.

SoftBank’s Vision Fund will offer stakes in five of its holdings as collateral, according to the Bloomberg report, but the people did not specify which companies’ stake would be used.

The $93-billion Vision Fund has investments in companies including ride-hailing firm Uber Technologies Inc [UBER.UL] and shared-office space firm WeWork.

Deutsche Bank declined to comment, while Nomura was not available for comment.

SoftBank, Goldman Sachs and SMBC Nikko Securities did not immediately respond to Reuters’ requests for comment.

SoftBank’s mobile IPO could raise about 3 trillion yen ($27 billion) in proceeds, making it the biggest IPO ever to list on the Tokyo Stock Exchange.