(Bloomberg) -- Nippon Telegraph & Telephone Corp., Japan's largest phone company, may more than double bond sales this year to benefit from cheaper rates than bank loans as it aims to raise at least 470 billion yen ($3.9 billion), mainly to repay its units' debt.
NTT is seeking to raise at least 140 billion yen in two sales of 10-year bonds as early as in May, compared with 70 billion yen last year, Osamu Hirokado, head of NTT'S finance office said in an April 11 interview. The company may also sell five-year bonds in the fiscal year ending March 31, he said. NTT will borrow from banks to refinance the remaining debt.
Read more at Bloomberg Bonds News
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