Skadden Arps Slate Meagher & Flom and Mori Hamada & Matsumoto have advised on NTT Finance Corporation’s concurrent multi-currency offering of senior notes equating to around USD10.4 billion.
The issuance, denominated in US dollars, euros and pounds sterling, marks the largest global bond sale by an Asian company this year. NTT Finance Corporation is the financing arm of Japanese telecommunications giant NTT Group.
The US dollar-denominated notes were issued across seven tranches, comprising USD1 billion of 4.7410% senior notes due 2028, USD750 million of 4.8279% senior notes due 2029, USD750 million of 5.0115% senior notes due 2031, USD1 billion of 5.2588% senior notes due 2033, USD750 million of 5.4830% senior notes due 2036, USD500 million senior floating rate notes due 2029 and USD750 million senior floating rate notes due 2031.
The euro-denominated notes were issued in five tranches and consisted of EUR750 million (USD856 million) senior floating rate notes due 2028, EUR750 million of 3.3252% senior notes due 2029, EUR750 million of 3.5592% senior notes due 2031, EUR750 million of 3.8470% senior notes due 2034 and EUR850 million of 4.2330% senior notes due 2038.
The sterling-denominated tranche comprises GBP400 million (USD533 million) of 4.8522% senior notes due 2029.
Skadden advised NTT Finance Corporation on the offering, with a team that included Tokyo office head Kenji Taneda, partner Ken Kiyota, Asia-Pacific counsel Yuko Ozaki and associate Spencer Rauner.
Mori Hamada & Matsumoto also assisted on the transaction, with partner Katsuyuki Tainaka spearheading the team.
NTT Finance Corporation’s senior notes were listed on the Singapore Stock Exchange.
