By Andrea Heisinger
New York, Feb. 19 - Nippon Telegraph & Telephone Corp. sold $500 million of 2.15% seven-year notes (Aa2/AA/) on Tuesday to yield Treasuries plus 80 basis points, an informed source said.
The notes priced tighter than initial guidance in the 90 bps area, the source said.
Pricing was at 99.916 to yield 2.163%.
Bookrunners were BofA Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
The telecom and IT company is based in Tokyo.
| Issuer: | Nippon Telegraph & Telephone Corp.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Feb. 26, 2020
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Coupon: | 2.15%
|
| Price: | 99.916
|
| Yield: | 2.163%
|
| Spread: | Treasuries plus 80 bps
|
| Trade date: | Feb. 19
|
| Settlement date: | Feb. 26
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Price talk: | 90 bps area
|
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