Nomura Holdings Inc. said Tuesday it will issue two-year Islamic bonds, or sukuk, worth $100 million to diversify its funding sources into the large and growing Islamic finance market.
The issuance is the first sukuk by a Japanese company, according to the biggest brokerage house in Japan. The proceeds will be used to finance the purchase of aircraft by a Nomura subsidiary for its lease business
The issuance is the first sukuk by a Japanese company, according to the biggest brokerage house in Japan. The proceeds will be used to finance the purchase of aircraft by a Nomura subsidiary for its lease business
Sukuk commonly refers to the Islamic equivalent of bonds. Structured to comply with Shariah or Islamic law, sukuk securities take the form of capital contributions and investment returns as the law prohibits the charging or paying of interest.
Nomura's sukuk, which is reported to be fully subscribed, will be listed on the Kuala Lumpur Stock Exchange.
Source : Kyodo News International
Nomura's sukuk, which is reported to be fully subscribed, will be listed on the Kuala Lumpur Stock Exchange.
Source : Kyodo News International
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