Dictionary

Uridashi Bond Distribution

From the Collaborative Bond and Money Market Data Portal 

 

Non Japanese issuers can sell bonds into Japan either as a: (i) Samurai Bond primary offering (boshu); or as a (ii) Uridashi the secondary offering of bonds outside Japan. For more detailed information on How to Offer Bonds in Japan please check this "Bond Offerings in Japan" document.

 
Uridashi bonds are bonds sold to Japanese "Watanabe" retail investors under foreign law. They are typically not denominated in Yen and issued in a currency with a higher yield then JPY.  The Japanese investor will do well as long as the JPY foreign exchange value remains stable towards the higher yielding currency. In this case the investor takes credit risk in addition to foreign exchange risk. Risk taking can also happen in JPY linking the instrument to the movements of an equity exchange like the Nikkei.

 

In the Collaborative Bond and Money Market Data Model the Uridashi attribute appears within the field Distribution which is a classification within the universe of Bond and Money Markets.

 

Based on available data, on the 8th of November 2017, the size of the Uridashi Bond Market was USD42.9bn equivalent, in 17 different currencies.   

 

For information on the current size of the Uridashi Bond Market, please use our data sheet tool.
For information on the composition of the Uridashi Bond Market, please use our issuer search tool.
For information on active dealers in the Uridashi Bond Market, please use our dealer search tool.