For Immediate Release
July 26, 2017
Advance Residence Investment Corporation
Securities Code:3269
1-105 Kanda-Jinbocho, Chiyoda-ku, Tokyo Kenji Kousaka, Executive Director
Asset Management Company:
AD Investment Management Co., Ltd.
Kenji Kousaka, President
Inquiries:
Tomoyuki Kimura, Director and General Manager
Corporate Management Department
TEL. +81-3-3518-0480
Notice Concerning Debt Financing and Redemption of BondAdvance Residence Investment Corporation (ADR) announced today its decisions regarding debt financing and redemption of bond as detailed below.
1.Debt Financing
Details of the Debt Financing
(JPY:million)
No.
Lender
Planned Drawdown Date
Scheduled Amount
Interest Rate(Note1) (fixed rate)
Principal Repayment date
Repayment Period
Principal Repayment
Collateral/ Guarantee
1
The Nishi-Nippon City Bank,Ltd.
The Bank of Fukuoka,Ltd. The Iyo Bank,Ltd.
The Bank of Kyoto,Ltd. Shinkin Central Bank
September 11,
2017
2,500
Unfixed(Note2)
August 31,
2027
10.0 year
Pay in full on the maturity date
Unsecured Non-guaranteed
2
The Nishi-Nippon City Bank,Ltd.
The Bank of Fukuoka,Ltd. The Iyo Bank,Ltd.
The Chugoku Bank,Ltd. Shinkin Central Bank
September 11,
2017
2,500
Unfixed(Note2)
Febrary 27,
2026
8.5 year
Pay in full on the maturity date
Unsecured Non-guaranteed
Total or Weighted Average
5,000
9.2 year
(Note1) Interest payment dates are, starting from Ocotber 2017, last business day of every January, April, July, October and the principal repayment date. (Note2) The interest rates for the loan will be announced separately.
Purpose of the Debt Financing
The fund procured from the debt financing will be used to redeem the existing bond due on September 12, 2017 .
Scheduled Contract Date of Debt Financing July 31, 2017
2.Details of the Existing Bond to be Redeemed
(JPY:million)
No. | Lender | Drawdown Date | Scheduled Amount | Interest Rate (fixed rate) | Principal Repayment Date | Repayment Period | Principal Repayment | Collateral/ Guarantee |
1 | ADR Unsecured Bond #17 (with Pari Passu clause among specified investment corporation bonds) | September 12, 2012 | 8,000 | 0.87% | September 12, 2017 | 5.0year | Pay in full on the maturity date | Unsecured Non-guaranteed |
Reference Material: Debt Financing Balance (As of September 12, 2017) (Note3)
(JPY:thousand)
Before Refinancing (Note4) | After Refinancing | Increase (Decrease) | ||
Short-term Loans (Note5) | 0 | 0 | - | |
Long-term Loans (Note5) | 192,074,329 | 193,874,329 | 1,800,000 | |
Total Loans | 192,074,329 | 193,874,329 | 1,800,000 | |
Corporate Investment Bonds | 34,500,000 | 29,500,000 | ▲5,000,000 | |
Total interest-bearing debt | 226,574,329 | 223,374,329 | ▲3,200,000 |
(Note3) The balance assumes on September 12, 2017 that the following actions until September 12, 2017.
Early repayment of the existing loan on July 31, 2017, which was announced in the press release titled "Notice Concerning Early Repayment of Loans" on July 4, 2017.
Refinancing of the existing loans maturing August 31, 2017.
Issuance bond (3,000,000 thousand yen) to redeem the existing bond (8,000,000 thousand yen) excepted above financing amount (5,000,000 thousand yen) on September 12, 2017.
(Note4) As of July 26, 2017.
(Note5) Short-term loans are loans with repayment dates within one year from drawdown date and long-term loans are loans with repayment dates that are more than one year away.
* URL: http://www.adr-reit.com/en/
[Provisional Translation Only]
English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
Advance Residence Investment Corporation published this content on 26 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 July 2017 08:55:05 UTC.
Original documenthttp://www.adr-reit.com/src/2017/07/20170726_Notice-Concerning-Debt-Financing-and-Redemption-of-Bond_final.pdf
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