Japan's NTT sells $2. 6 billion green bond offering

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Japan's NTT sells $2. 6 billion green bond offering

- Japan s largest telecom company Nippon Telegraph Telephone Corp. priced one of the world s largest corporate green bond offerings ever on Friday, as regulators globally increase oversight of such debt.

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The company s financial unit, NTT Finance Corp. sold $2.6 billion of green notes in a three-part deal, according to underwriter Nomura Securities Co.. It is the biggest offering of environmentally-friendly debt in Japan, according to data compiled by Bloomberg.

Companies and governments around the world have sold about $438 billion of green bonds this year, a record for any full-year period and more than double the year-earlier amount, according to Bloomberg data compiled. Issuers of ESG debt face a more challenging regulatory environment as authorities from Europe to the U.S. seek to toughen rules to ensure that claims around such debt are verifiable.

The proceeds of NTT s bond sales will go to green projects including spending on renewable energy and investments in fifth-generation wireless technology, the company said previously. With firms coming under pressure to bolster their commitment to environmental goals, NTT aims to reduce carbon emissions by 80% by fiscal 2030 from 2013 levels, according to the company.

Offerings of environmental bonds exceeding $2 billion by regular companies that aren't banks are relatively rare, though Volkswagen AG and Apple Inc. both priced deals of 2 billion euros each $2.3 billion in recent years.

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