NTT plans bond sale

22 Jan 2003

NTT Corp. has hired Nikko Salomon Smith Barney Ltd. and Mitsubishi Securities Co. to handle a new bond sale, as it seeks to raise cash for capital spending and loans to its subsidiaries. The bonds will have a ten-year maturing, though the size and timing of the sale have yet to be decided. NTT has JPY70 billion of bonds due to mature next month with a further JPY50 billion maturing in November.