NTT DoCoMo to launch first domestic bond

The Japanese mobile phone giant NTT DoCoMo will next week issue Ñ200 billion of bonds to help fund its expansion programme.

NTT DoCoMo, Japan's largest mobile operator, will issue its first domestic bond deal next week with a Ñ200 billion $1.7 billion offering. The company has mandated Nomura Securities as lead manager on the transaction, with Morgan Stanley Dean Witter as co-lead.

The deal will encompass notes of five- and 10-year maturities, a company official confirms.

DoCoMo will use the funds to help diversify funding sources for its aggressive overseas expansion programme. The company - which already has over 30 million cellular subscribers and a market capitalization of Ñ27 trillion - last year bought stakes in Dutch telecom company KPN Mobile 15%, Hutchison 3G UK 20%,...

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