Foreign Bond Issues in Japan
Authors
Japan opened its capital market for foreign bond issues in the eighties.
The public bond issue by foreign issuers is known as Samurai Bond issue.
The privately placed foreign bonds are known as Shobosai Bonds.
In the first half of 2008, $13.5 billion in Samurai bonds were issued. It is the highest first-half volume on record, as per the data of Thomson Reuters[1].
Japanese institutions have come through the global credit crisis largely unscathed, leaving them with cash to buy bonds issued in Japan by foreign entities as Samurai bonds.
1. http://www.reuters.com/article/JapanInvestment08/idUST34392920080703
Japanese step up foreign bonds, 2010
http://www.ft.com/cms/s/0/b9794252-ab3d-11df-9e6b-00144feabdc0.html#axzz1IRlMJMKK
Bond underwriting in Japan, 2006
http://www.frbsf.org/publications/economics/papers/2006/wp06-45bk.pdf
Reviewed 3.3.2011
Japanese step up foreign bonds, 2010
http://www.ft.com/cms/s/0/b9794252-ab3d-11df-9e6b-00144feabdc0.html#axzz1IRlMJMKK
Bond underwriting in Japan, 2006
http://www.frbsf.org/publications/economics/papers/2006/wp06-45bk.pdf
Reviewed 3.3.2011
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