KDDI reveals USD545m corporate bond plan

17 Feb 2009

Japan’s second largest telecoms operator by subscribers, KDDI Corp, has revealed it is selling JPY50 billion (USD545 million) worth of corporate bonds, starting 26 February. According to a Bloomberg report, the company will issue JPY40 billion of bonds in five-year notes – to be managed by Daiwa Securities – and a further JPY10 billion worth of ten-year notes – managed by Mizuho Securities Company and Daiwa. Tokyo-based KDDI is increasing its borrowing to shore up its free cash-flow. It previously raised JPY80 billion from the sale of debt in December 2007.

Japan, KDDI (au)