7-Eleven, Inc. completed its third yen-denominated securitization via Citigroup Corporate & Investment Bank in December. According to Citigroup, the 10 billion ($74.3 million) royalty-backed future flow provides cost-effective funding and eliminates foreign exchange risk.

The transaction is non-recourse to 7-Eleven and will be repaid from future yen royalties received by 7-Eleven from Seven-Eleven Japan Co. Ltd, pursuant to a master license agreement. The deal provides 10-year financing for 7-Eleven at a historically low fixed-interest rate of 1.8%.

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