Japan-based Hankyu Corp., whose principal business is operating rail networks in the west of the country, will use securitization for the next project in its diversification scheme.

The company will transform the Nishinomiya Stadium - located in Nishinomiya, Hyogo Prefecture - into a giant shopping complex and condominiums, with construction due to begin this fall. Hankyu will issue a securitization deal this summer to raise up to 20 billion, and investors will be redeemed from future sales of shop units

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