Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Print-friendly version

Samurai bonds mark Japan upturn

22 Jul 2009

EDF, the French power producer, has sold 110.4 billion yen (US$1.17 billion) of Samurai bonds.

The company was advised by Lovells, led by Sharon Lewis, partner global head of Lovells' capital markets practice.

Hironori Shibata and Chihiro Ota of local firm Anderson Mori and Tomotsune advised the company on Japanese law. Fumiaki Shimazaki, of Shimazaki International Law office advised the lead manager, Mitsubishi UFJ Securities.

The bonds were purchased by institutional investors, including life insurance companies and banks.

The Samurai bonds are yen-denominated bonds issued in Japan by foreign borrowers. This is the first placement by a corporate issuer in the country since the beginning of the global crisis.