Update : Nov. 11, 2013
[Tokyo Stock Exchange, Inc.]
Today, Tokyo Stock Exchange approved a program listing from Asian Development Bank (6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines, http://www.adb.org/) for listing on the professional-oriented bond market, i.e. TOKYO PRO-BOND Market.
It is the first case that an international institution registered a program on TOKYO PRO-BOND Market.
Asian Development Bank's borrowing proceeds finance development projects and programs within its developing members with the aim of reducing poverty in Asia and the Pacific region. In 1970, it was the first issuer of Samurai bonds in the Japanese yen market.
Asian Development Bank undertakes most of its borrowings through its Global Medium Term Note (GMTN) program and listed the program on TOKYO PRO-BOND Market at this time. The details of Asian Development Bank’s Program Information can be found on TOKYO PRO-BOND Market website (http://www.tse.or.jp/english/rules/probond/publication-company/latest-publication.html).
TOKYO PRO-BOND Market was established in March 2012 as a professional-oriented bond market based on the "Professional-oriented Market Rules" introduced in an amendment to the Financial Instruments and Exchange Act in 2008. The market implements program listing, the standard form of corporate bond issuance in overseas market, and English-only information disclosure. Program listing refers to a system where the fund-raising issuer registers the possible issuance amount, basic information, and financial information on TOKYO PRO-BOND Market as program information, following which it is able to issue bonds as needed within the estimated issuance amount. The market's highly flexible rules offer efficient bond issuance through simplified disclosure documents, and convenient formal requirements, such as acquiring a credit rating as the listing eligibility requirements for program information and individual bonds and securing a lead underwriter(s) specified by the exchange. As of November 11, 2013, including Asian Development Bank’s program, 4 programs are listed.
Tokyo Stock Exchange, Inc.
New Listing Department