NTT Corp plans JPY500bn-plus bond float to cement DOCOMO takeover

13 Nov 2020

Nippon Telegraph and Telephone Corp (NTT Corp) is planning to issue corporate bonds worth over JPY500 billion (USD4.7 billion) in Japan, to help fund its planned takeover of mobile arm NTT DOCOMO. The Nikkei reports that in what will be its biggest bond issuance, the Japanese behemoth hopes to raise capital to fund loans taken out from financial institutions to gain full control of the mobile division, unnamed sources are cited as saying. With NTT Corp seeking to generate funds for its JPY4.25 trillion offer for DOCOMO, it is understood it may also add ‘billions of yen’ to the offering, depending on investor demand – with an overseas float also being mulled as an option. The issue will be underwritten by SMBC Nikko Securities, Mitsubishi UFJ Morgan Stanley Securities, Mizuho Securities, Nomura Securities and Daiwa Securities.

Japan, Nippon Telegraph and Telephone Corporation (NTT Corp), NTT DOCOMO