ADVANCE RESIDENCE INVESTMENT CORPORATION August 22, 2023
For Immediate Release
Advance Residence Investment Corporation
Securities Code：3269
1-105Kanda-Jinbocho,Chiyoda-ku, Tokyo
Wataru Higuchi, Executive Director
Asset Management Company:
ITOCHU REIT Management Co., Ltd.
Junichi Shoji, Representative Director, President
& CEO
Inquiries:
Isao Kudo, Executive Officer
TEL. +81-3-6821-5483
Notice Concerning Debt Financing and Repayment of Loans
Advance Residence Investment Corporation (ADR) announced today its decisions to borrow funds to repay loans coming due.
1. Debt Financing (drawdown date: August 31, 2023)
- Details of the Debt Financing
(JPY:million) | ||||||||||||||||
Planned | Scheduled | Principal | Repayment | Principal | Collateral/ | |||||||||||
No. | Lender | Drawdown | Interest Rate | Repayment | ||||||||||||
Amount | Period | Repayment | Guarantee | |||||||||||||
Date | date | |||||||||||||||
THE NISHI-NIPPON CITY | August | August | Pay in full | Unsecured | ||||||||||||
1 | 800 | Unfixed (Note1) | 6.0 year | on the | ||||||||||||
BANK, LTD. | 31, 2023 | 31, 2029 | maturity date | Non-guaranteed | ||||||||||||
(Note1) ・Interest payment dates are the last business day of January, April, July, October, starting October, 31, 2023 and ending on the principal repayment date.
・The interest rate for the loans will be announced separately.
(2) Purpose of the Debt Financing
To repay existing Loan due on August 31, 2023. (Note2)
(Note2) ・The difference of 1,000 million yen from the total of 1,800 million yen in existing loans scheduled for repayment on August 31, 2023 ( "2. Details of the Loans to be Repaid " below) will be repaid with funds on hand.
-
Scheduled Contract Date of the Debt Financing
August 29, 2023
1
[Provisional Translation]
This English translation of the original Japanese document is provided solely for informational purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
2. Details of the Loans to be Repaid
(JPY:million) | |||||||||||||||
Planned | Scheduled | Principal | Repayment | Principal | Collateral/ | ||||||||||
Lender | Drawdown | Interest Rate | Repayment | ||||||||||||
Amount | Period | Repayment | Guarantee | ||||||||||||
Date | date | ||||||||||||||
Resona Bank, Limited. | 1,000 | 0.72700%(Note3) | Pay in full | ||||||||||||
August | August | Unsecured | |||||||||||||
8.0 year | on the | ||||||||||||||
31, 2015 | 31, 2023 | Non-guaranteed | |||||||||||||
THE NISHI-NIPPON CITY BANK, | maturity date | ||||||||||||||
800 | 0.72700%(Note3) | ||||||||||||||
LTD. | |||||||||||||||
Total or Weighted Average | 1,800 | 0.72700%(Note3) | 8.0 year | ||||||||||||
(Note3) The interest rate is fixed through interest rate swap.
Reference Material: Debt Financing Balance (As of April 31, 2023)
（JPY:million） | ||||||
Before Refinancing(Note4) | After Refinancing | Increase (Decrease) | ||||
Short-term Loans (Note5) | 3,000 | 3,000 | - | |||
Long-term Loans (Note5) | 198,709 | 197,709 | (1,000) | |||
Total Loans | 201,709 | 200,709 | (1,000) | |||
Corporate Investment Bonds | 31,600 | 31,600 | - | |||
Total interest-bearing debt | 233,309 | 232,309 | (1,000) |
(Note4) As of August 30, 2023
(Note5) Short-term Loans are Loans with maturity dates within one year from drawdown date and long-term Loans are Loans with maturity dates that are more than one year away.
About Advance Residence Investment Corporation
Advance Residence Investment Corporation is the largest J-REIT specializing in residential properties and is managed by ITOCHU REIT Management Co., Ltd. (IRM), the asset management company of the ITOCHU Group, investing in over 270 rental apartments located mostly in central Tokyo and in other major cities throughout Japan (AUM over 470 billion yen). ADR can be expected have a stable dividend in the long-term and can be considered as a defensive J-REIT, on back of the stable income from residential assets and with the largest dividend reserve among J-REITs.
"Advance" is the common brand name of the real estate investment corporation managed by ITOCHU REIT Management Co., Ltd.
ADR's website:https://www.adr-reit.com/en/
IRM's website :https://www.itc-rm.co.jp/en/
2
[Provisional Translation]
This English translation of the original Japanese document is provided solely for informational purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Advance Residence Investment Corporation published this content on 22 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2023 06:35:03 UTC.
