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Telecommunication

NTT plans record $4.7bn bond float to fund Docomo takeover

Expanded issue and US offering also on table to meet anticipated demand

NTT will invest proceeds from the float into 5G infrastructure along with the Docomo deal. (Nikkei montage)

TOKYO -- Nippon Telegraph & Telephone will issue more than 500 billion yen ($4.74 billion) in corporate bonds, a record for a single float in the Japanese market, to raise cash for its 4.25 trillion yen tender offer for subsidiary NTT Docomo.

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