Japanese listed telco KDDI Corporation has issued a 10-year Y30bn (US$285.7m) unsecured bond to redeem existing bonds.
The notes, which carry an annual 0.669% coupon, priced at par. They will mature on 20 September 2024.
Lead managers were Daiwa, which…
Japanese listed telco KDDI Corporation has issued a 10-year Y30bn (US$285.7m) unsecured bond to redeem existing bonds.
The notes, which carry an annual 0.669% coupon, priced at par. They will mature on 20 September 2024.
Lead managers were Daiwa, which also acted as bookrunner, Mizuho and Mitsubishi UFJ Morgan Stanley. The Bank of Tokyo-Mitsubishi UFJ acted as fiscal agent.
Japan’s Rating and Investment Information (R&I) gave the offering an A+ rating.
KDDI, Japan’s third largest mobile operator, last visited the bond market in December last year when it issued Y30bn worth of unsecured notes, also to redeem existing facilities.
The telco is in the process of setting up a telecoms joint venture in Myanmar to tap the country’s underpenetrated mobile market.