SYDNEY, June 17 (Reuters) - Japan's SoftBank

raised $4.8 billion from a sale of 21.5 million T-Mobile

shares at $224 each, according to a term sheet reviewed

by Reuters.

The shares were offered in a price range of $224 to $228

each, the term sheet said. The final price was around a 3%

discount to T-Mobile's closing price on Monday of $230.99.

SoftBank and T-Mobile did not immediately respond to

requests for comment from Reuters.

SoftBank will remain T-Mobile's second largest shareholder

after the stock sale, behind Deutsche Telekom which

is the U.S. company's biggest investor.

The Japanese firm owned 7.52% of T-Mobile, or 85.36 million

shares worth about $22.76 billion, according to LSEG data, ahead

of the block trade.

SoftBank said in late 2023 it would receive T-Mobile shares

worth about $7.59 billion at no additional cost after conditions

set out in an agreement made as part of the merger of SoftBank's

U.S. telco Sprint and T-Mobile were met.

Bloomberg News reported the share sale earlier.

(Reporting by Scott Murdoch; Additional reporting by Anton

Bridge in Tokyo and Kanjyik Ghosh in Bengalaru; Editing by

Jacqueline Wong and Muralikumar Anantharaman)