Global law firm White & Case LLP has represented state-owned Qatar Petroleum on a JPY 85 billion (approximately US$1 billion) Samurai bond offering in Japan. This bond is Qatar Petroleum’s first ever Japanese yen bond offering and it is the first yen bond offering by a Qatari entity.
This 10-year JPY-denominated bond via private placement was guaranteed by Japan Bank for International Cooperation (JBIC). The banks mandated were Daiwa, Mitsubishi UFJ Financial Group, Mizuho Financial Group, Nomura and Sumitomo Mitsui Financial Group.
Commenting on the transaction, Abu Dhabi-based White & Case partner Sean Johnson said: “This transaction enables Qatar Petroleum to reach a new class of investors and shows the strong investor interest in Qatari capital markets issuances, following the recent successes of the State of Qatar’s conventional bond offering in December 2011 and its sukuk offering in June 2012. We were delighted to have had the opportunity to work with Qatar Petroleum on this offering which plays to our strengths in the Middle East and Tokyo.”
Tokyo-based partner Norifusa Hashimoto added: “We were very pleased to advise Qatar Petroleum on its successful first Samurai bond, which is one of the first Samurais to launch following changes to Japanese regulation in April this year allowing certain documents to be filed in English rather than Japanese language.”
The deal team comprised partners, Norifusa Hashimoto (Tokyo), Sean Johnson (Abu Dhabi) and Philip Stopford (London) with assistance from senior associates Koji Yamamoto (Tokyo) and Catherine Andrews (Abu Dhabi), and associate Alan MacRitchie (Doha).
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