Real estate investment in Japan: announcement of debt financing

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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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