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.
The telecommunications company may still add hundreds of billions of yen to the offering, depending on demand from institutional investors. An overseas float also is being considered, as the parent may be unable to raise all the capital it needs from Japan's relatively small bond market. The overall total raised could top 1 trillion yen.
