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Partial Acquisition of Publicly Offered Samurai Bonds Issued by Government of Oriental Republic of Uruguay
Supporting Vitalization of Samurai Bond Market and Strengthening Cooperation with Government of Uruguay

  • Region: Latin America and the Caribbean
  • Others
  • Untied Loans
December 9, 2021
  1. The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) partially acquired yen-denominated foreign bonds (Samurai bonds)*1 today under the “Guarantee and Acquisition toward Tokyo market Enhancement” (GATE)*2 financing facility. These Samurai bonds, totaling JPY50 billion yen, were issued by the Government of the Oriental Republic of Uruguay (Uruguay) through public placement in the Japanese market.
      
  2. JBIC provided guarantees for Samurai bonds issued by the Government of Uruguay in March 2007 and June 2011*3 to support the issuance. This time, the Government of Uruguay planned another issuance of Samurai bonds without a guarantee from JBIC, and the issuance, which is the sixth Samurai bond issuance by the Government of Uruguay, took place with JBIC purchasing part of the bonds.
      
  3. Providing such phased support for the Government of Uruguay in the issuance of Samurai bonds is beneficial to maintain and increase the presence of bonds issued by the Government of Uruguay in the Tokyo bond market. Furthermore, by supporting the issuance of Samurai bonds in the Tokyo market by foreign issuers, broader investment opportunities would be provided to Japanese investors, thereby stimulating the Samurai bond market.
      
  4. The Government of Uruguay has formulated its Green Hydrogen Strategy with a vision of becoming an exporter of green hydrogen in the medium term, by harnessing Uruguay’s abundant renewable energy sources such as water, wind, and biomass. Furthermore, this year is the commemorative 100th anniversary of the establishment of diplomatic relations between Japan and Uruguay. JBIC’s support for the Government of Uruguay in its Samurai bond issuance is a testament to the further deepening of the relations between the two countries and will stimulate businesses of both countries in the area of decarbonization such as green hydrogen.
      
  5. JBIC will continue to support the issuance of Samurai bonds by foreign governments and their agencies in the Tokyo bond market by utilizing its GATE financing facility, as well as contribute toward further deepening and developing economic relations between Japan and other countries.
      
Note
  1. *1 
    Samurai bonds are yen-denominated bonds issued in the Tokyo bond market by foreign governments or companies. The Government of Uruguay submitted its securities registration statements to the Kanto Local Finance Bureau on November 16, 2021.
  2. *2 
  3. *3 

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