DoCoMo bond deal cut down to size

Japanese mobile phone operator NTT DoCoMo launches Ñ180 billion of corporate bonds, below the anticipated Ñ200 billion.

Japanese mobile phone giant NTT DoCoMo has launched its first domestic corporate bond, with a Ñ180 billion $1.5 billion offering. Nomura Securities acted as lead manager and Morgan Stanley Dean Witter as co-lead.

The borrower had originally intended to raise Ñ200 billion through its debt issue, part of an overall funding programme to raise Ñ1800 billion for overseas expansion, but investor interest in the longer term notes was less than anticipated and the deal...

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