Japanese issuers tap Islamic finance market.

The article deals with the issuance of Shariah-compliant debt papers by credit card issuer Aeon Credit Service of Japan. The issuance was under an agreement signed with joint lead arrangers, managers and bookrunners Aseambankers Malaysia, Bank of Tokyo-Mitsubishi UFJ and CIMB Investment Bank. According to managing director Kuroda Naruhito, they are looking to raise funds at a rate of 4 to 4.5 percent in three to five years. The papers are guaranteed through a syndication arranged by corporate bank Mizuho.