Japan Set for Blockbuster Bonds After NTT Revives M&A Push
- NTT is planning debt sale to pay for purchase of mobile unit
- Big bonds for M&A tend to offer yield premium due to risk
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Japan is headed for more mergers and acquisitions after a recent deal from one of the country’s biggest telecom firms, and that’s raising hopes for lucrative landmark bond sales to finance the spree.
Nippon Telegraph & Telephone Corp. is planning note offerings to help fund the $40 billion purchase of its mobile unit. A big bond sale by the telecom firm would follow huge deals since last year to pay for Takeda Pharmaceutical Co.’s acquisition of Shire Plc. and Asahi Group Holdings Ltd.’s buying of Anheuser-Busch InBev NV’s Australian business.