NTT launches $10 billion bond sale, Asia’s largest this year

NTT began selling roughly $10 billion in dollar, euro, and sterling bonds on Wednesday, according to Bloomberg.bloomberg
The sale follows NTT’s record $17.7 billion bond deal last July and is aimed at funding its expansion into AI-ready data center infrastructure.bloomberg
The offering reflects a broader tech-driven debt boom, with hyperscalers doubling their non-dollar bond issuance this year, per Bank of America ↘0.31% data.journalrecord

NTT Targets $10 Billion in Asia’s Largest Corporate Bond Sale of 2026

NTT launched the marketing of a multi-currency bond offering on Wednesday that aims to raise approximately $10 billion, positioning it as the largest offshore corporate bond issuance by an Asian company this year.yahoo

The finance division of Japan’s telecommunications giant began selling the bonds on June 24, with roughly half of the total expected to be denominated in U.S. dollars, while the remainder will be split between a €3.85 billion euro tranche and £400 million in sterling, according to Bloomberg. Orders for the euro and sterling portions alone have already surpassed $7 billion.bloomberg

A Repeat Borrower on a Grand Scale

The offering marks NTT’s return to global debt markets less than a year after it completed a record-breaking $17.7 billion dual-currency bond sale in July 2025, which attracted more than $100 billion in investor orders. That deal — the largest ever by an Asian corporate issuer — was used to refinance bridge loans taken on to bring its data center business fully in-house. NTT Finance Corp., the group’s funding subsidiary, handled both transactions.bloomberg

The current sale is likewise tied to NTT’s expansion of AI-ready data center infrastructure, part of a broader trend of technology and telecom companies tapping global bond markets to fund capital-intensive buildouts.cryptobriefing

AI Spending Fuels Corporate Debt Boom

NTT’s offering arrives amid a wave of technology-driven corporate bond issuance worldwide. U.S. corporate bond supply was forecast to reach $2.46 trillion in 2026, up nearly 12% from the prior year, with AI hyperscaler funding needs identified as the largest driver, according to a Barclays report cited by Reuters. The technology sector accounts for 11.8% of all private-sector debt issuance so far this year.fidelity

Amazon raised €14.5 billion in March in the largest-ever euro corporate bond deal, while Alphabet has become one of the biggest outstanding borrowers across multiple non-dollar bond markets, according to Reuters. Hyperscalers have seen their non-dollar issuance double to 30% of total bond funding this year, Bank of America data shows.journalrecord

NTT had earlier postponed a planned yen-denominated bond sale in May amid volatility in Japanese government bond markets, making the current global offering its primary avenue for raising fresh capital.x