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Kochanski & Partners Advises JBIC on Bank BGK Issuance of Samurai Bonds for Ukraine

Kochanski & Partners Advises JBIC on Bank BGK Issuance of Samurai Bonds for Ukraine

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Kochanski & Partners, working with Nagashima Ohno & Tsunematsu, has advised the Japan Bank for International Cooperation on securing Bank Gospodarstwa Krajowego's JPY 93 billion issuance of aid bonds for Ukraine. CMS reportedly advised BGK.

According to Kochanski & Partners, "the bonds were issued on May 24, 2023, and are secured by a guarantee from the State Treasury and an additional guarantee from JBIC."

The Japan Bank for International Cooperation is a Japanese public financial institution and export credit agency. Bank Gospodarstwa Krajowego is a Polish national development bank tasked with supporting and servicing export transactions, issuing governmental guarantees, and supporting housing.

"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," Kochanski & Partners reported. "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."

The Kochanski & Partners team included Partners Pawel Mardas and Jacek Kozikowski.

Editor's Note: After this article was published, CMS confirmed it had advised Bank Gospodarstwa Krajowego on its issuance of samurai bonds on the Japanese market. The firm's team was led by Counsel Michal Smiechowski and included Partner Rafal Zakrzewski, Senior Associate Przemyslaw Karolak, Associates Przemyslaw Kopka and Marcin Krzemien, and Lawyer Michal Horelik.