HEIWA REAL ESTATE REIT, INC. July 31, 2023
For Immediate Release
REIT Issuer
HEIWA REAL ESTATE REIT, Inc.
5-1 Nihonbashi Kabuto-cho,Chuo-ku, Tokyo
Aya Motomura, Executive Director
(Securities Code: 8966)
Asset Management Company
HEIWA REAL ESTATE Asset Management CO., LTD.
Masanori Hirano, Representative Director, President and Chief Executive Officer Inquiries: Junichi Kawamura, Managing Officer and General Manager of Planning & Finance Department TEL. +81-3-3669-8771
Notice Concerning Borrowing of Funds
HEIWA REAL ESTATE REIT, Inc. (the "Investment Corporation") announced today the following decision to borrow funds as described below.
Details | ||
1. Borrowing of Funds | ||
(1) Details of Borrowings | ||
Term Loan 72-① | ||
Lender | Sumitomo Mitsui Banking Corporation | |
Loan Amount | 1,000 million yen | |
Interest Rate | Base interest rate (JBA 1-month Japanese Yen TIBOR) + 0.200% (Note 1) | |
Drawdown Date | August 3, 2023 | |
Borrowing Method | Borrowing based on the individual loan agreements with the above lender scheduled to | |
be concluded on August 1, 2023 | ||
The last day of every month (the first interest payment date shall be August 31, 2023) | ||
Interest Payment Date | and the principal repayment date (however, in the event that one of these days is not a | |
business day, the business day immediately preceding it) | ||
Principal Repayment Date | May 31, 2024 | |
Principal Repayment Method | Lump-sum repayment on the principal repayment date | |
Collateral and Guarantee | Unsecured and unguaranteed | |
Term Loan 72-② | ||
Lender | Development Bank of Japan Inc. | |
Loan Amount | 1,000 million yen | |
Interest Rate | TBD (fixed interest rate) (Note 3) | |
Drawdown Date | August 3, 2023 | |
Borrowing Method | Borrowing based on the individual loan agreement with the above lender scheduled to be | |
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concluded on August 1, 2023 | |
The last day of every January and July (the first interest payment date shall be January | |
Interest Payment Date | 31, 2024) and the principal repayment date (however, in the event that one of these days |
is not a business day, the business day immediately preceding it) | |
Principal Repayment Date | November 28, 2031 |
Principal Repayment Method | Lump-sum repayment on the principal repayment date |
Collateral and Guarantee | Unsecured and unguaranteed |
Term Loan 72-③
Lender | Sumitomo Mitsui Trust Bank, Limited |
Loan Amount | 1,000 million yen |
Interest Rate | Base interest rate (JBA 3-month Japanese Yen TIBOR) + 0.570% (Note 2) |
Drawdown Date | August 3, 2023 |
Borrowing Method | Borrowing based on the individual loan agreement with the above lender scheduled to be |
concluded on August 1, 2023 | |
The last day of every January, April, July and October (the first interest payment date | |
Interest Payment Date | shall be October 31, 2023) and the principal repayment date (however, in the event that |
one of these days is not a business day, the business day immediately preceding it) | |
Principal Repayment Date | May 31, 2032 |
Principal Repayment Method | Lump-sum repayment on the principal repayment date |
Collateral and Guarantee | Unsecured and unguaranteed |
Term Loan 72-④
Lender | Resona Bank, Limited. |
Loan Amount | 1,000 million yen |
Interest Rate | Base interest rate (JBA 3-month Japanese Yen TIBOR) + 0.570% (Note 2) |
Drawdown Date | August 3, 2023 |
Borrowing Method | Borrowing based on the individual loan agreement with the above lender scheduled to be |
concluded on August 1, 2023 | |
The last day of every January, April, July and October (the first interest payment date | |
Interest Payment Date | shall be October 31, 2023) and the principal repayment date (however, in the event that |
one of these days is not a business day, the business day immediately preceding it) | |
Principal Repayment Date | November 30, 2032 |
Principal Repayment Method | Lump-sum repayment on the principal repayment date |
Collateral and Guarantee | Unsecured and unguaranteed |
(Note 1) The base interest rate applicable to the calculation period for the interest payable on an interest payment date is the 1 -month Japanese Yen TIBOR released by JBA TIBOR Administration (the "JBATA") two business days preceding the first day of each Interest calculation period. For JBA's Japanese Yen TIBOR, please check with JBATA's website (http://www.jbatibor.or.jp/english/rate/).
(Note 2) The base interest rate applicable to the calculation period for the interest payable on an interest payment date is the 3 -month Japanese Yen TIBOR released by JBA TIBOR Administration (the "JBATA") two business days preceding the first day of each Interest calculation period. For JBA's Japanese Yen TIBOR, please check with JBATA's website (http://www.jbatibor.or.jp/english/rate/).
(Note 3) The interest rate will be announced when determined.
(2) Reason for Borrowings
The total amount of proceeds from the borrowing described above will be used to partly find the acquisition of "PRIME TOWER YOKOHAMA", and the expenses associated with the acquisition.
- For more details about the acquisition of the specified asset, please refer to the press release "Notice Concerning Acquisition of Domestic Asset (PRIME TOWER YOKOHAMA)" announced on today.
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2. Status of Interest-Bearing Liabilities after Borrowing of Funds
(Unit: million yen, fractions of one unit have been rounded off)
Before | After | Change | ||
Borrowing of funds | Borrowing of funds | |||
Short-term loans | 100 | 1,100 | 1,000 | |
Long-term loans due | 11,285 | 11,285 | - | |
within 1 year | ||||
Long-term loans | 88,252 | 91,252 | 3,000 | |
Total loans | 99,637 | 103,637 | 4,000 | |
Investment corporation bonds | 8,900 | 8,900 | - | |
Total interest-bearing liabilities | 108,537 | 112,537 | 4,000 | |
3. Other
The risks associated with the borrowing of funds as described above do not change from those detailed in "Investment Risks" in the securities registration statement, which was submitted on May 22, 2023. and the periodic securities report (yuka shoken hokokusho) for the fiscal period ended November 2022 (42nd Fiscal Period), which was submitted on February 28, 2023.
- Investment Corporation Website:https://www.heiwa-re.co.jp/en/
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HEIWA Real Estate REIT Inc. published this content on 31 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2023 08:05:03 UTC.
