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DAIWA SECURITIES LIVING INVESTMENT CORPORATION

(8986)
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Daiwa Securities Living Investment : Notice Concerning Interest-Rate Swap Agreements

06/18/2021 | 02:33am EDT

English Translation

The following is an English translation of the Japanese original press release and is being provided for information purposes only.

June 18, 2021

To All Concerned Parties

REIT Issuer: Daiwa Securities Living Investment Corporation

6-2-1 Ginza, Chuo-ku, Tokyo 104-0061

Ikuo Shoda, Executive Director

(Securities Code: 8986)

Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.

Toshio Fukushima, President and Chief Executive Officer

Inquiries: Takashi Chiba, General Manager, Corporate Division

Tel: +81-3-6757-9680

Notice Concerning Interest-Rate Swap Agreements

Daiwa Securities Living Investment Corporation (hereinafter referred to as the "Investment Corporation") hereby announces that the Investment Corporation executed interest-rate swap agreements. Details are provided as follows.

I. Purpose of the Interest-Rate Swap Agreements

The Investment Corporation has executed interest-rate swap agreements to fix the interest rate for the 10,200 million yen borrowings to be financed on June 22, 2021 as a hedge against possible increase of the interest rates in future.

II. Summary of the Interest-Rate Swap Agreements

Notional

Interest Rate

Commence

Termination

Lenders

Amount

Counterparty

Fixed

Floating

ment Date

Date

(JPY million)

interest rate

interest rate

payable

receivable

MUFG Bank, Ltd.

2,500

Daiwa Securities

0.0615%

3-month

Co. Ltd.

JBA

Jun. 30,

Resona Bank,

659

Japanese

Limited

2028

Yen TIBOR

Sumitomo Mitsui

1,000

Daiwa Securities

0.0615%

(Note1)

Banking Corporation

Co. Ltd.

MUFG Bank, Ltd.

2,570

Jun. 22,

Daiwa Securities

0.0800%

2021

3-month

Resona Bank,

659

Co. Ltd.

Limited

JBA

Nov. 30,

Japanese

2029

Shinsei Bank,

Daiwa Securities

1,242

0.0800%

Yen TIBOR

Limited

Co. Ltd.

(Note2)

Sumitomo Mitsui

1,570

Daiwa Securities

0.0800%

Banking Corporation

Co. Ltd.

(Note1) The interest payment date is the last day of March, June, September, and December of each year (if the relevant day is not a business day, the next business day, and if the next business day falls into the next month, the immediately preceding business day). Floating interest rate receivable is calculated on the basis of the 3-month JBA TIBOR published two business days prior to the commencement of the calculation period for interest.

(Note2) The interest payment date is the last day of February, May, August, and November of each year (if the relevant day is not a business day, the next business day, and if the next business day falls into the next month, the immediately preceding business day). Floating interest rate receivable is calculated on the basis of the 3-month JBA TIBOR published two business days prior to the commencement of the calculation period for interest.

Please refer to the 3-month JBA TIBOR Administration website (http://www.jbatibor.or.jp/english/rate/) for JBA Japanese Yen TIBOR information.

English Translation

The following is an English translation of the Japanese original press release and is being provided for information purposes only.

III. Interest rate payable after the conclusion of the Interest-Rate Swap Agreements for floating interest rate borrowing

Amount of

Fixed

Borrowing

Due date

Lenders

borrowing

Floating interest rate

interest rate

date

(JPY million)

payable

MUFG Bank, Ltd.

2,500

0.5440%

3-month JBA Japanese Yen

Jun. 30,

Resona Bank, Limited

659

TIBOR +0.4825%

2028

Sumitomo Mitsui

1,000

0.5440%

Banking Corporation

MUFG Bank, Ltd.

2,570

Jun. 22,

0.6375%

2021

Resona Bank, Limited

659

3-month JBA Japanese Yen

Nov. 30,

TIBOR +0.5575%

2029

Shinsei Bank, Limited

1,242

0.6375%

Sumitomo Mitsui

1,570

0.6375%

Banking Corporation

Ⅳ. Forecast

There is minimal impact from these interest-rate swap agreements on asset management conditions for the fiscal period ending September 30, 2021 (April 1, 2020 to September 30, 2021) and the fiscal period ending March 31, 2022 (October 1, 2021 to March 31, 2022).

. Other

As for risks pertaining to the Interest-Rate Swap Agreements, there are no material changes to the "Investment risks" stated in the most recent semiannual securities report (submitted on December 23, 2020).

*URL: https://www.daiwa-securities-living.co.jp/en/

Disclaimer

Japan Rental Housing Investments Inc. published this content on 18 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2021 06:32:02 UTC.


© Publicnow 2021
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Sales 2022 22 096 M 202 M 202 M
Net income 2022 9 107 M 83,1 M 83,1 M
Net Debt 2022 - - -
P/E ratio 2022 28,7x
Yield 2022 3,59%
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Nbr of Employees 15 028
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Managers and Directors
Toshio Fukushima President & Representative Director
Akira Yamanouchi Chairman
Kouhei Yabuta Supervisory Officer
Jun Nagamine Supervisory Officer
Ikuo Shoda Executive Officer