Milbank, Tweed, Hadley & McCloy and Simpson, Thacher & Bartlett have acted on Nippon Telegraph and Telephone Corporation’s (NTT) public offering of $750 million of 1.4percent notes due 2017.

Morgan Stanley, Barclays Capital, and Bank of America Merrill Lynch were the joint bookrunning managers for the sale.

On July 11, Reuters reported that Standard & Poor’s rating services assigned the senior notes its AA rating.  The ratings on NTT reflect its established leading position in Japan's fixed-line, mobile communications, and broadband markets and its strong earnings and profitability in its mobile business, which has an almost 50percent share of the mobile communications market. NTT Group is Japan’s largest telecommunications group.

Representing the underwriters was a Simpson Thacher team led by Tokyo partner Alan Cannon including New York tax partner Rob Holo. Milbank New York partner Robert Mullen, Jr. led the team that served as NTT’s counsel.

Candice Mak is North Asia Editor at ALB. Follow us on Twitter: @ALB_Magazine.

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