Japan Excellent, Inc. Announces the New Debt Financing with Development Bank of Japan Inc., Mitsubishi Ufj Trust and Banking Corporation, Sumitomo Mitsui Banking Corporation, Resona Bank, Ltd. Aozora Bank, Ltd., Sompo Japan Nipponkoa Insurance Inc., Tokio Marine & Nichido Fire Insurance Co., Ltd., and Mizuho Bank, Ltd
November 26, 2017 at 08:45 pm EST
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Japan Excellent, Inc. announced the new debt financing with the following lenders as follows, Development Bank of Japan Inc. with the loan amount of JPY 3.5 billion, where interest rate is fixed with the borrowing period 6.5 year and principal repayment date is May 31, 2024. Mitsubishi UFJ Trust and Banking Corporation, Sumitomo Mitsui Banking Corporation, Resona Bank Ltd. and Aozora Bank Ltd. with the loan amount of JPY 5.5 billion, where interest rate is fixed with the borrowing period 6 year and principal repayment date is November 30, 2023. Sompo Japan Nipponkoa Insurance Inc. and Tokio Marine & Nichido Fire Insurance Co. Ltd. with the loan amount of JPY 1 billion, where interest rate is 0.35% with the borrowing period 5 year and principal repayment date is November 30, 2022. Mizuho Bank Ltd. with the loan amount of JPY 2 billion, where interest rate is floating (Base interest rate (JBA JPY 1 million TIBOR)+20%) with the borrowing period 1 year and principal repayment date is November 30, 2018. The total loan amount is JPY 12 billion.
Japan Excellent, Inc. is a real estate investment trust (REIT) company. It aims to achieve sustainable growth in asset and stable earnings from mid- to long-term perspectives. It primarily invests in office buildings located in Tokyo's six central wards, central Osaka and Nagoya, Tokyo's surrounding areas, including Kanagawa, Saitama and Chiba Prefectures, as well as other government-designated cities. Its property portfolio includes Kowa Kawasaki Nishiguchi Building, Akasaka Garden City, Omori Bellport D, AKASAKA INTERCITY, Musashikosugi Tower Place, Daiba Garden City Building, Kowa Kawasaki Higashiguchi Building, Shiba 2-Chome Building, JEI Hamamatsucho Building and No.44 Kowa Building. The asset manager of the Fund is Japan Excellent Asset Management Co., Ltd.
Japan Excellent, Inc. Announces the New Debt Financing with Development Bank of Japan Inc., Mitsubishi Ufj Trust and Banking Corporation, Sumitomo Mitsui Banking Corporation, Resona Bank, Ltd. Aozora Bank, Ltd., Sompo Japan Nipponkoa Insurance Inc., Tokio Marine & Nichido Fire Insurance Co., Ltd., and Mizuho Bank, Ltd