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Nippon Telegraph & Telephone Corp

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NTT Finance Corp

by Anastasiia Zaika

Jun 24, 2026 7:38 AM ET

LAUNCHED: NTT Finance Corp €3.85bn & £400m 6-part Sr Unsec; 3m€+45 / MS+60 / MS+80 / MS+100 / MS+123 / G+80

IGC European Market: Deal Flow - General

Issuer	Term	Maturity	Size	Ranking	Type	IPT	Spread Set	ISIN
NTT Finance Corp	2yr	20-Jun-28	€750m	Sr Unsec	Floating	3m€+70a	3m€+45	144A: XS3422221021 / RegS: XS3422220999
NTT Finance Corp	L3yr	01-Nov-29	€750m	Sr Unsec	Fixed	MS+85-90	MS+60	144A: XS3422221377 / RegS: XS3422221294
NTT Finance Corp	L5yr	01-Nov-31	€750m	Sr Unsec	Fixed	MS+105a	MS+80	144A: XS3422221534 / RegS: XS3422221450
NTT Finance Corp	8yr	01-Jul-34	€750m	Sr Unsec	Fixed	MS+125a	MS+100	144A: XS3422221708 / RegS: XS3422221617
NTT Finance Corp	L12yr	01-Nov-38	€850m	Sr Unsec	Fixed	MS+150a	MS+123	144A: XS3422221963 / RegS: XS3422221880
NTT Finance Corp	S3yr	29-Mar-29	£400m	Sr Unsec	Fixed	G+100a	G+80	144A: XS3422222185 / RegS: XS3422222003

Launched:
2yr FRN: €750m @ 3m€+45bp - Books €1.5bn
L3yr: €750m @ MS+60bp - Books €1.65bn
L5yr: €750m @ MS+80bp - Books €1.9bn
8yr: €750m @ MS+100bp - Books €1.75bn
L12yr: €850m @ MS+123bp - Books €2.55bn
S3yr: £400m @ G+80bp - Books £1.2bn

IPTs: 2yr FRN: 3m€+70a L3yr: MS+85-90bp L5yr: MS+105a 8yr: MS+125a L12yr: MS+150a S3yr: G+100a

Issuer: NTT Finance Corporation (Ticker: NTT, Country: Japan)
Issuer’s LEI: 3538007PR116187GD960
Expected Ratings: A3/BBB+ (Moody's/S&P)
Ranking: Senior Unsecured
Format: 144A and 3(c)(7) / Reg S
Settlement Date: 01-Jul-26 (T+5)
Size:
- 2yr FRN: €750m
- L3yr: €750m
- L5yr: €750m
- 8yr: €750m
- L12yr: €850m
- S3yr: £400m
Maturity:
- 2yr FRN: 20-Jun-28
- L3yr: 01-Nov-29
- L5yr: 01-Nov-31
- 8yr: 01-Jul-34
- L12yr: 01-Nov-38
- S3yr: 29-Mar-29
Ref Bmk:
- 2yr FRN: n/a
- L3yr: OBL 2.5% 10/29
- L5yr: DBR 0% 8/31
- 8yr: DBR 2.2% 2/34
- L12yr: DBR 1% 5/38
- S3yr: UKT 0.5% 1/29
Coupon:
- 2yr FRN: Quarterly
- L3yr: Fixed, Ann, Short 1st
- L5yr: Fixed, Ann, Short 1st
- 8yr: Fixed, Ann
- L12yr: Fixed, Ann, Short 1st
- S3yr: Fixed, S/A, Short 1st Cpn
Day Count:
- 2yr FRN: Act/360
- L3yr: ACT/ACT (ICMA)
- L5yr: ACT/ACT (ICMA)
- 8yr: ACT/ACT (ICMA)
- L12yr: ACT/ACT (ICMA)
- S3yr: ACT/ACT (ICMA)
MWC:
- 2yr FRN: n/a
- L3yr: Yes, B+[ ]
- L5yr: Yes, B+[ ]
- 8yr: Yes, B+[ ]
- L12yr: Yes, B+[ ]
- S3yr: Yes, G+[ ]
Par Call:
- 2yr FRN: n/a
- L3yr: n/a
- L5yr: 1m
- 8yr: 2m
- L12yr: 3m
- S3yr: n/a
ISIN (144A):
- 2yr FRN: XS3422221021
- L3yr: XS3422221377
- L5yr: XS3422221534
- 8yr: XS3422221708
- L12yr: XS3422221963
- S3yr: XS3422222185
ISIN (RegS):
- 2yr FRN: XS3422220999
- L3yr: XS3422221294
- L5yr: XS3422221450
- 8yr: XS3422221617
- L12yr: XS3422221880
- S3yr: XS3422222003
Documentation: 144A/RegS, Standalone Prospectus / SGX-ST Listing / 100k+1k denoms
Sales into Canada: Yes
Use of Proceeds: General corporate purposes, including repayment of debt
Joint Bookrunners: JPM (B&D), Citi, BofA, MS, BNPP, GS, Barc, Mizuho, SMBC, Nomura, Daiwa
DealRoadshow: https://dealroadshow.com | Entry code: NTT2026 (not case sensitive)
Books Subject: Books subject at 12.45 UKT / 13.45 CET (Will be flex for US-based demand)