The Yen 12,800,000,000 ½ per cent Exchangeable Notes were issued by Funnel Finance A.E.C., an exempted company incorporated in Aruba. The Company applied for a primary listing for the Notes on the Bermuda Stock Exchange.
The Notes, as issued, constitute direct, unconditional, and unsecured obligations of the Issuer. They are issued in registered form in the authorized denomination of Yen 100,000,000 (approximately US$ 884,000) and integral multiples thereafter. The Notes will be exchanged, as set out in the Offering Circular, for shares in Lawson Inc., one of the leading operators of convenience stores in Japan.
The transaction was arranged by Nomura International Plc, London.
The listing of the Funnel Finance A.E.C. - Exchangeable Notes due 2002 on the Bermuda Stock Exchange is sponsored by Nomura Securities (Bermuda) Limited.
"The BSX is pleased to welcome the Funnel Finance A.E.C. - Exchangeable Notes due 2002 to listing", said Mr. James S. McKirdy, Listing Manager of the BSX.
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For further information on Funnel Finance A.E.C. - Exchangeable Notes due 2002, please contact James Hallett Nomura Securities (Bermuda) Limited at telephone: 441-296-4050, facsimile: 441-296-4061.