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PRESS RELEASE
April 21, 2022
For immediate release
investment company
Japanese real estate investment company
Yutaka Yanagisawa, Executive Director
(TSE Code: 8952)
Asset management company
Japan Real Estate Asset Management Co., Ltd.
Shojiro Kojima, President and CEO
Contact: Masaru Motooka
Executive Officer and General Manager
Planning Department
Phone: +81‐3‐3211‐7951
Debt financing announcement
Japan Real Estate Investment Corporation hereby announces its decision today to procure the funds as follows:
-
1. Reason for borrowing
Repayment of the existing JPY 3 billion long-term loan executed on April 24, 2013.
-
2. Overview of the loan
-
(1) Borrowing date April 25, 2022
-
(2) Lender, Loan Amount, Principal Repayment Date
-
|
Lender |
Amount of the loan |
Principal repayment date |
|
Mizuho Bank, Ltd. |
3,000 million yen |
April 25, 2023 |
|
(3) |
Interest rate: |
Base rate (JPY TIBOR 1 month published by Japanese Bankers |
|
Association (hereinafter “JBA”)) + 0.040% (Note 1) |
||
|
(4) |
Borrowing method: |
Loan on overdraft agreement |
|
Unsecured/unsecured loan |
||
|
(5) |
Interest payment date: |
The principal repayment date and the 25th of each month of the |
|
period until the principal repayment date (Note 2) |
||
|
(6) |
Main repayment method: |
Lump-sum repayment on the capital repayment date |
(Note 1)・ The base rate for calculating interest payable on interest payment dates is JBA 1 month JPY TIBOR from the second business day prior to the date of borrowing for the first interest payment date and from the second business day preceding from the most recent interest payment date for subsequent interest payment dates. (JBA 1 month JPY TIBOR as of April 21, 2022 is 0.080%.)
･ For JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration website
(https://www.jbatibor.or.jp/english/rate/).
(Note 2) When an interest payment date is not a business day, interest must be paid on the following daybusiness day or the preceding business day if the next business day falls within the following month.
3. Balance of interest-bearing debt after debt financing
(Units: million JPY)
|
Before |
After |
Increase decrease |
|
|
Short-term loans payable |
41,200 |
44,200 |
+3,000 |
|
Long-term borrowings (variable interest rate) |
21,000 |
21,000 |
±0 |
|
Long-term loans payable (Fixed interest rate) |
344,700 |
341,700 |
-3,000 |
|
Total loans |
406,900 |
406,900 |
±0 |
|
Investment company bonds |
42,993 |
42,993 |
±0 |
|
Total investment company bonds |
42,993 |
42,993 |
±0 |
|
Total interest-bearing debt |
449,893 |
449,893 |
±0 |
4. Others
With respect to the risks associated with the repayment of this loan, there is no significant change in the descriptions of “Investment Risks” in the latest securities report filed on December 24, 2021.
This is the English translation of the Japanese announcement dated April 21, 2022.
No assurance or warranty is given as to the completeness or accuracy of this English translation.
Warning
JREI – Japanese Real Estate Investment Company published this content on April 21, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on April 21, 2022 08:14:12 UTC.
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