Japan Real Estate Investment : Announcement of Debt Financing
12/15/2021 | 01:49am EDT
NEWS RELEASE
December 15, 2021
For Immediate Release
Investment Corporation
Japan Real Estate Investment Corporation
Yutaka Yanagisawa, Executive Director
(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Naoki Umeda, President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager
Planning Department
Phone: +81‐3‐3211‐7951
Announcement of Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to procure funds as follows:
1. Reason for the borrowing
Repayment of the existing long‐term loan of JPY 2 billion executed on June 17, 2014.
2. Overview of the borrowing
Loan 1
Loan 2
(1)
Lender:
The Nishi‐Nippon City Bank, Ltd.
(2)
Amount of loan:
JPY 1,000 million
JPY 1,000 million
(3)
Interest rate:
0. 27875% (Fixed)
0.37375% (Fixed)
(4)
Borrowing date:
December 17, 2021
(5)
Method of borrowing:
Loan agreement dated December 15, 2021
Unsecured/unguaranteed loan
(6)
Interest payment date:
The principal repayment date and the 17th of
every June and December in the period until the
principal repayment date (Note)
(7)
Method of principal repayment:
Lump‐sum repayment on the principal repayment
date
(8)
Principal repayment date:
December 18, 2028
December 17, 2031
(Note) When an interest payment date is not a business day, the interest shall be paid on the following business day or the immediately preceding business day if the following business day is in the following month.
1
3. Balance of interest‐bearing debt after the debt financing
(Units: millions of JPY)
Before
After
Increase/Decrease
Short‐term loans payable
21,200
21,200
±0
Long‐term loans payable
21,000
21,000
±0
(Variable interest rate)
Long‐term loans payable
339,700
339,700
±0
(Fixed interest rate)
Total loans
381,900
381,900
±0
Investment corporation bonds
42,993
42,993
±0
Total
42,993
42,993
±0
investment corporation bonds
Total interest‐bearing debt
424,893
424,893
±0
4. Others
Regarding risks pertaining to these loan repayments, there is no material change to the descriptions of "Investment risks" in the latest securities report submitted on June 25, 2021.
This is the English translation of the announcement in Japanese dated December 15, 2021.
No assurance or warranties are given for the completeness or accuracy of this English translation.
JREI - Japan Real Estate Investment Corporation published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 06:48:11 UTC.
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