NTT Finance Corporation has successfully completed a monumental $17.5 billion notes offering, marking the largest issuance by an Asian corporate in the global debt market. The financing subsidiary of the NTT Group issued both US dollar- and euro-denominated notes, with the US dollar notes spread across seven tranches and the euro notes across four. The offering was finalised on 16 July 2025 and the notes are listed on the Singapore Stock Exchange.
The US dollar-denominated notes include tranches such as $1.25 billion of 4.567% senior notes due 2027 and $2.5 billion of 5.502% senior notes due 2035. Meanwhile, the euro-denominated notes feature €1.5 billion of senior floating rate notes due 2027 and €1.5 billion of 4.091% senior notes due 2037. This issuance is also the second largest dollar-denominated notes offering in the US high-grade market this year, according to Bloomberg data.
Skadden, Arps, Slate, Meagher & Flom, a prominent law firm, advised NTT Finance on this transaction. The Skadden team was led by Corporate Partner Kenji Taneda, with support from Counsellor Ken Kiyota, Asia Pacific Counsellor Yuko Ozaki, and associate Spencer Rauner, all based in Tokyo. Skadden has a history of advising NTT Finance and NTT Group on over $12 billion in international notes offerings since 2021.
This significant financial move not only underscores NTT Finance’s robust position in the market but also highlights the growing influence of Asian corporates in global finance. The successful completion of this offering could pave the way for future large-scale issuances by Asian companies.
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