93 billion yen to help Ukraine – Kochański & Partners supports JBIC on the issue of Bank BGK’s Samurai Bonds in Japan

We recently completed a project to advise Japan Bank for International Cooperation (JBIC), a policy-based financial institution of Japan in securing BGK’s (Bank Gospodarstwa Krajowego) Samurai bond issue in Japan. The bonds were issued on 24 May 2023 and are secured by a guarantee from the State Treasury and an additional guarantee from JBIC.

The value of the bonds is 93 billion yen.

Samurai Bond issue in support of Ukraine

The issue was targeted at Japan’s financial institutions and the funds to be raised will be earmarked for the BGK Aid Fund. This fund was established under a Polish statute to support Ukrainian citizens in connection with the ongoing war.

Paweł Mardas, Partner in the Private Equity Practice advised on the transaction.

The successful issuance of Bank BGK’s Samurai Bonds proves that a large and significant financial undertaking, implemented and operated by major players in the financial industry, can go hand in hand with a desire to help the people of Ukraine. For us, this is not only another important international financing project, but first and foremost a reason to be proud that we are taking part in a venture that will really help our Ukrainian friends,” says Paweł Mardas.

Samurai Bonds – another ambitious project by our Japan Desk

Our support included reviewing the entire issue documentation including security documentation and proposing amendments to the documentation relating to JBIC’s obligations as guarantor of the issue.

It is a great honour for us to have supported JBIC in the issuance of BGK treasury bonds in Japan. We are happy to have been able to translate our unique experience gained from Japanese development projects into support for Ukraine. With Japanese businesses in mind, for more than a decade we have been developing the Japan Desk, which supports Japanese investment and transaction projects in Poland. We are delighted that our Japanese partners trust us and assign their most complex projects to us,” adds Piotr Kochański, Managing Partner.

A unique combination of in-depth industry knowledge and legal expertise

We advise on many cross-border transactions and projects, working for funds, investors and financial institutions from other jurisdictions and continents.

The particular significance of this project lies not only in its international dimension, the value of the issue, the prestige and prominence of the financial institutions involved, with JBIC at the forefront, but above all in its ultimate objective, which is the support for Ukraine announced at the 2023 G7 Summit in Hiroshima.

Since the Russian aggression, we have supported our neighbours and friends – Ukraine’s citizens and business, investors, companies and entrepreneurs. You can read more about this practical support here.

Questions? Contact us

Paweł Mardas

Contact us:

Piotr Kochański

Piotr Kochański

Attorney at Law, Senior Managing Partner

+48 602 218 217