Providing latest news, data and market analysis for Uridashi and Samurai bonds to users including mtn issuers, financial institutions and hedge funds. Uridashi is retail bond market in Japan featuring structured derivative products and exotic currencies.
9 Uridashi bonds were launched this week, +350% vs last week and -25% vs same period last year(2023-11-27 - 1-Dec). Fixed rates were the most popular with more than half of issuances. USD was the most popular among non-JPY currencies with 2 bonds. In terms of maturity, 2-3 yrs was the most common with 56% of total, followed by 1yr or below with 33%. In terms of distributors, Gungin Securities and Iyogin Securities distributes 4 bonds, followed by Shizugin TM Securities, Okigin Securities, 77 Securities, Tokai Tokyo Securities, and Mebuki Securities with 2 bonds. 78% of bonds are sold by multiple distributors(syndication). Average yield was 3.82%, highest was 29.14%. 231 bonds has been launched this year so far (-15% vs last year)
Redemption of around JPY 1BN of Uridashi bonds including Municipality Finance Straight Bond (5yr, IDR54.6BN, 5.30%), redemption for Banco Santander Samurai (5yr, JPY50BN) is expected next week (2-Dec〜8-Dec)
Majority of Uridashi bonds are either a complex structured product or in foreign currency. Our bond data, input and double-checked by experienced professionals, provides you with every useful detail of such bonds. Fixings, redemption status and verious analysis is recalculated daily throughout the lifetime of the bond.
Do you know expected redemption amount this month if Nikkei move 10% above current spot? Which FX underlying has biggest long-term exposure? Imperial Market Data has answer to every questions on Uridashi providing both numerical data and charts. We inform you every morning with latest issuance and market activities through e-mail.
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