Nomura launches FlexisTM, a unique bankruptcy remote protection vehicle
London, June 25, 2009 – Nomura today announced the launch of Flexis, the first ever issuance vehicle to offer protective safeguards to investors in an arranger bankruptcy scenario via a predefined process for the resolution of such events. Unlike other issuance vehicles which focus only on bankruptcy remoteness, Flexis offers resilience mechanisms which can help clients mitigate the credit risk in their portfolios and access their protected investments in a defined and timely manner.
"Flexis is the first issuance vehicle that offers appropriate safeguards for noteholder protection in the case of an arranger bankruptcy. We are excited to offer an issuance platform which was specifically developed to provide clients with greater credit mitigation and diversification levels. Given the flexibility of the platform, Flexis has already been well received by institutional and retail investors," said Marcel Koebeli, Managing Director, head of Equity Derivatives Structured Sales at Nomura.
Flexis will issue notes, certificates and warrants which are secured by dedicated assets. It employs a compartment structure which means that each product issued by Flexis is secured by specific, ring fenced assets. A variety of assets are available ranging from government bonds through to high yield corporate bonds.
"Alongside Nomura's Issuance Programme and the Enovara UCITS III platform, Flexis adds new breadth to Nomura's distribution and wrapping capabilities. Our experience and knowledge of issuance vehicles has allowed us to add unique and innovative features to Flexis in order to be prepared for the unforeseeable," said Mohamed Yangui, Managing Director, head of Equity and Fund Derivatives Structuring Group at Nomura.
Flexibilty in terms of underlyings, payout profiles and suitable client types was a key requirement in creating the vehicle. A wide range of payouts, such as capital protected and non protected products, and underlyings, such as equities, rates, foreign exchange, commodities and mutual funds, are available under the Flexis issuance programme. Products can be listed on the Luxembourg Stock Exchange and passported under the EU Prospectus Directive for public distribution in a number of jurisdictions.
The issuance vehicle is authorised and supervised onshore under Luxembourg law by the Commission de Surveillance du Secteur Financier. Flexis is a Luxembourg public limited liability company outside of the Nomura Group with an independent board of directors.
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For further information please contact:
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| Name | Company | Telephone |
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| Felicity Albert | Nomura | +44 207 102 1756 |
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Nomura
Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in over 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 26,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: retail, global markets, investment banking, merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.
