Skadden advised NTT Finance Corporation, the financing subsidiary of the NTT Group, on approximately US$17.5 billion in concurrent U.S. dollar- and euro-denominated notes offerings. The U.S. dollar-denominated notes were issued in seven tranches in aggregate principal amounts of US$1.25 billion of 4.567% senior notes due 2027, US$1.5 billion of 4.620% senior notes due 2028, US$2.5 billion of 4.876% senior notes due 2030, US$2.5 billion of 5.171% senior notes due 2032, US$2.5 billion of 5.502% senior notes due 2035, US$500 million senior floating rate notes due 2028, and US$500 million senior floating rate notes due 2030. The euro-denominated notes were issued in four tranches in aggregate principal amounts of €1.5 billion of senior floating rate notes due 2027, €1 billion of 2.906% senior notes due 2029, €1.5 billion of 3.678% of senior notes due 2033, and €1.5 billion of 4.091% of senior notes due 2037. The notes were listed on the Singapore Stock Exchange. The senior notes offering was completed on July 16, 2025.
This is the largest offering ever by an Asian corporate in the global debt market and the second largest dollar-denominated notes this year in the U.S. high-grade market, according to data compiled by Bloomberg. Skadden has previously advised NTT Finance Corporation and NTT Group on more than US$12 billion in international notes offerings since 2021.
The Skadden team was led by Corporate Partner Kenji Taneda (Tokyo), with Counsel Ken Kiyota (Tokyo), Asia Pacific Counsel Yuko Ozaki (Tokyo), and associate Spencer Rauner (Tokyo).
