NTT issues bumper offshore bond offering

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Nippon Telegraph and Telephone (NTT) issued US$10.48 billion in new bonds on 1 July, split across US dollar, euro and GBP denominations.

The largest two issuances, of US$1 billion, were made in USD. The first has a 4.741% coupon, and the second a 5.259% coupon.

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A further US$2.75 was issued in USD across five tranches: three sets of US$750 million at 5.011%, 4.828% and 5.843%, and US$500 million at 4.450%.

US$539.3 million was issued in GBP.

In euro-denominated offerings, US$4.442 billion was issued across five tranches. Of this figure, four lots of US$865.35 million were issued with 2.751%, 3.325%, 3.559% and 3.847% coupons. The remaining US$980.73 million was issued with a 4.233% coupon.

NTT has a BBB+ credit rating from S&P Global and A3 from Moody’s.

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