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NEW YORK — The Seminole tribe's $965 million purchase Thursday of the Hard Rock brand from the U.K.'s Rank Group Plc highlights the growth and increased sophistication of stock and debt issuances by American Indian nations.

"The purchase is believed to be the first of a major international corporation by a Native American Indian tribe and marks a milestone in the growing economic power and prominence of the Seminole tribe of Florida and other Indian tribes in today's business world," according to a statement from Seminole Hard Rock Entertainment Inc.

The company is owned by the Seminole tribe.

The purchase will give the tribe 124 cafes in 45 countries. It also includes a vast collection of music memorabilia, the Hard Rock brand and a worldwide network of retail outlets around the word.

The agreement also gives the tribe, which already owns Hard Rock resorts in Tampa and Hollywood, Fla., licensing or franchise agreements for another 56 restaurants and five hotels, plus Hard Rock Live performance venues.

The deal, announced in London by Rank Group, is to be funded through a combination of debt issued by a new Hard Rock operating company and equity from the Seminole's gaming division.

Bond offerings by tribes have been around for several decades, and total deal flow in this category has been increasing steadily since the early 1990s, according to Richard Peterson, director of capital markets at Thomson Financial.

Details about the exact sizes of the debt and equity portions of the Seminole Hard Rock financing package were not available. Still, "this could very well be the largest (American Indian bond deal)," Peterson said. "Debt issuance has been increasing in line with the growth of casinos."

Previously, the largest American Indian bond offering was a $350 million deal issued in 1995 by the Mashantucket Pequot Tribe, according to Peterson's records.

There also was a $145 million offering in 2002 by the Oneida Nation of New York.