Guarantee for Privately Placed Samurai Bonds Issued by the Central Bank of Tunisia
Supporting the business activities of Japanese corporations through guarantees

  • Area: Africa
  • Others

JBIC concluded agreements related to guarantees for yen-denominated bonds issued in Japan (Samurai bonds)*1 by the Central Bank of Tunisia as part of FAITH. The bonds are privately placed yen-denominated bonds, and JBIC guarantees the full principal and some of the interest of the bonds. With the agreement, JBIC provided guarantees through the Guarantee and Acquisition toward Tokyo market Enhancement (GATE) facility*2 as part of support for the Middle East and North Africa based on the Deauville Partnership.*3 This is the third round of guarantees that JBIC has provided for Samurai bonds issued by the Central Bank of Tunisia. Such continuous support is expected to aid the diversification of fund procurement by the Tunisian government, as well as promote the issuance of bonds by overseas entities in the Samurai bond market, and also contribute to efforts to at least maintain if not improve the international competitiveness of Japan's capital markets. Tunisia's real GDP grew at an annualized rate 2.3% in 2013, and it is hoped that this agreement will further strengthen the relationship between Japan and Tunisia, and invigorate Japanese corporations' business in a wide range of fields.
  1. *1Samurai bonds are yen-denominated bonds issued in Japanese markets by an overseas entity such as a foreign country or corporation.
  2. *2With the Guarantee and Acquisition toward Tokyo market Enhancement (GATE) facility, JBIC supports the issuance of Samurai bonds through partial guarantees and acquires some Samurai bonds itself when necessary.
  3. *3The Deauville Partnership is a framework agreed to at the G8 Deauville Summit held in May 2011 to support the historic changes that were occurring in the Middle East and North Africa.
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