The first bonds likely to be issued were widely expected to be from Australian banks Westpac Banking and ANZ Banking Group, bankers said. Although the timing is unclear, at least one issue could happen as soon as the end of this month.
The government-guaranteed format under which the bonds are issued make them attractive to investors searching for higher yields than Japanese government bonds with minimum risk.
The country's market for samurai bonds (yen-denominated bonds issued by foreign institutions and available only to Japanese investors) came to an abrupt halt following the collapse of Lehman Brothers in mid- September last year, forcing the postponement of three issues expected the following week.