A single organization did more than any other last year to breath new life into the market for Japanese international borrowings. It goes under the unfamiliar name of Japan Bank for International Cooperation or JBIC – pronounced Jaybic – as almost everyone who deals with it now calls it. JBIC made two landmark issues last year: the first in early February was an innovative $1 billion floating-rate note issue under its old name of Export-Import Bank of Japan (Jexim); then in October JBIC launched its new name with a 10-year $1 billion fixed-rate offering in the Eurodollar market.
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