Japanese telco Nippon Telegraph & Telephone Corp (NTT) has reportedly priced a US$500m bond due 2020.
The notes have a 2.150% coupon and a reoffer price of 99.916, representing a yield of 2.163%, reported Reuters.
BofA Merrill Lynch, JP Morgan and…
Japanese telco Nippon Telegraph & Telephone Corp (NTT) has reportedly priced a US$500m bond due 2020.
The notes have a 2.150% coupon and a reoffer price of 99.916, representing a yield of 2.163%, reported Reuters.
BofA Merrill Lynch, JP Morgan and Morgan Stanley are lead managers on the debt, added the report.
NTT was not immediately available to comment.
The company owns NTT Docomo, Japan’s largest mobile operator by customer numbers. In January Japan’s number three mobile operator Softbank completed its acquisition of the country’s number four eAccess in a US$2.3bn deal. Softbank is also in the process of acquiring a majority stake in US operator Sprint Nextel under a US$20.1bn deal.
NTT’s US$-denominated bond comes as traders of credit-default swaps note that Japanese corporate debt risk has fallen to its lowest level in more than a year.
