Hire supports BNPP's growing CEEMEA bond franchise

Japan’s major government-backed borrowers issued well-supported international bonds during the fiscal year that ended in March, after putting the previous torrid year behind them. Navigating an increasingly volatile rates environment was not easy, but Japan’s SSAs made transactions successful by prioritising investor communication, transparency, and selling environmental, social and governance linked bonds. GlobalCapital brought together some of the country’s leading SSA issuers and deal managers for a roundtable in mid-March, to discuss their approach to fundraising in the past year, the likely implications of a change in the Bank of Japan’s monetary policy and the increasingly mainstream nature of ESG bonds.

Japan’s environmental, social and governance bond market took a big leap forward this year when the government issued the world’s first sovereign transition bond, with much success. The journey was long and involved collaboration across ministries, as well as plenty of behind-the-scenes communication with global and domestic investors. But the deal has made the country a clear frontrunner in what is set to be an arduous journey for the world in its transition away from fossil fuels to cleaner energy sources. GlobalCapital brought together speakers from the Ministry of Finance and Ministry of Economy, Trade and Industry — as well as other issuers, investors and dealmakers — for a roundtable in March to talk about what’s next for Japan’s ESG market and how its transition bond could serve as a template for other countries.

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