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Guarantee for Privately Placed Samurai Bonds Issued by the Government of Indonesia (GOI)
Supporting Diversification of GOI's Funding Sources and Invigoration of the Samurai Bond Market

  • Region: Asia
  • Others
  • Guarantees
NR/2012-91
November 20, 2012
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on November 19 a set of agreements to provide a guarantee for yen-denominated foreign bonds issued by the Government of Indonesia (GOI) in the Japanese bond market (Samurai bonds).*1 JBIC’s guarantee will cover the principal and part of the interest of privately placed Samurai bonds by GOI aggregating to 60 billion yen. SMBC Nikko Securities Inc. and Mizuho Securities Co., Ltd. are joint lead arrangers, while Sumitomo Mitsui Banking Corporation is the commissioned company for bondholders.
     
  2. This is the third guarantee, provided under JBIC’s Guarantee and Acquisition toward Tokyo market Enhancement (GATE) facility,*2 following after similar guarantees to Samurai bond issues by GOI in July 2009*3 and November 2010.*4  As part of the efforts to implement its policy of maintaining and improving the international competitiveness of Japanese industries, JBIC supports Samurai bond issues by GOI in the Tokyo bond market with guarantee provision for the purpose of helping to expand and diversify the range of investment opportunities available to Japanese investors and to activate the Samurai bond market.
     
  3. Indonesia is one of the most important countries for Japan in view of its substantial supply of natural resources and strong economic ties through trade and investment with Japan. Economic stability in Indonesia contributes to the stability of financial order not only in Japan but in the entire Asian region. JBIC has been supporting the funding efforts of GOI with the provision of guarantee cover for its sovereign bond issues, a contingent loan facility*5 and other forms of financing. This is the third Samurai bond issuance by GOI, and JBIC’s continued support for Samurai bond issues is expected to support GOI’s diversification of its funding sources and contribute to the stable economic management of Indonesia, thereby strengthening bilateral ties.
     
  4. JBIC will continue to support the issuance of Samurai bonds by foreign governments or government agencies in the Tokyo bond market under the GATE facility.
     
Note
  1. *1 Samurai bonds are yen-denominated bonds issued by a foreign government or company in the Tokyo bond market.
  2. *2 See Press Release on April 15, 2010.
  3. *3 See Press Release on July 27, 2009.
  4. *4 See Press Release on November 9, 2010.
  5. *5 See Press Release on July 19, 2012.

 

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