JFM Bonds (International)

Objectives of International Bond Issuance

By issuing international bonds, JFM aims to:

1. diversify its funding sources;

2. broaden its investor base;

3. achieve lower funding costs.

Approach to International Bond Issuance

JFM has a long track record in international bond issuance. Since the first international bonds issued in 1984 by the Predecessor (i.e., Japan Finance Corporation for Municipal Enterprises), a total of 64 government-guaranteed issues have been offered and well received by international investors. Since 2012, JFM has focused on issuing non-guaranteed international bonds under the MTN Program, and will continue to leverage this program going forward to access international markets.

GMTN Program

Notes issued under JFM’s GMTN program will not be guaranteed by the Japanese national government.