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Guarantee and Partial Acquisition of Privately Placed Samurai Bonds Issued by Government of Indonesia (GOI)
Supporting Diversification of GOI's Funding Sources and Vigorous Operation of Samurai Bond Market

  • Region: Asia
  • Others
  • Guarantees

August 13, 2015
  1. The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed a set of agreements on August 11, to provide a guarantee for JPY55 billion of a total of JPY100 billion yen-denominated bond issue in the Japanese bond market (Samurai bonds) *1by GOI. Also, on August 13, JBIC acquired a part of the remaining JPY45 billion issued without guarantee. SMBC Nikko Securities Inc., Nomura Securities Co., Ltd. and Mizuho Securities Co., Ltd. participated as joint lead arrangers in the issuance.
     
  2. This guarantee and partial acquisition, provided under the Guarantee and Acquisition toward Tokyo market Enhancement (GATE) facility,*2 followed similar guarantees to Samurai bond issues by GOI in July 2009*3, November 2010*4 and November 2012.*5
     
  3. This JPY45 billion issuance without guarantee was possible due to the increased appetite of investors for GOI (issuer) bonds in the Tokyo market as a result of successful past issuance of Samurai bonds with a guarantee provided by JBIC. JBIC's partial acquisition of the bond supports the issuance of Samurai bonds without guarantee, and such staged support for GOI in the issuance of Samurai bonds contributes to maintaining and strengthening the presence of bonds issued by GOI in the Tokyo market. Furthermore, JBIC is expected to contribute to offering a broad range of investment opportunities to Japanese investors and helping to increase activities in the Samurai bond market, through supporting Samurai bonds issuance by foreign issuers.  
     
  4. Indonesia is an important natural resource supplier to Japan. It is also a valuable country to Japan, given the strong economic ties binding the two countries through trade and investment. Economic stability in the country will serve toward a stable financial order not only in Indonesia but in the Asian regional economy as well. JBIC's continued support for Samurai bond issues is expected to help GOI diversify its funding sources and contribute to the stable economic management of Indonesia, thereby leading to stronger ties between the two countries.
     
  5. JBIC will continue to support Samurai bond issuance 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 November 20, 2012.

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