Lawyers in Japan have called for
Samurai bond market participants to establish industry-standard
terms and conditions.
From April 2012,
amendments to Japans Financial Instruments and Exchange
Law will enable primary market disclosure documents in the
Samurai market to be prepared in English with supplementary
documents in Japanese.
The move aims to facilitate
Samurai bonds by aligning US, European and Japanese market
practice pertaining to legal risk disclosure.
But Hypo Group Alpe Adrias
counsel, Borislav Chonkov told IFLR differing
interpretations of event of default definitions and triggers
within bond documentation would also need to be addressed if
market activity was to increase.