JAPAN REAL ESTATE INVESTMENT CORPORATION NEWS RELEASE
August 1, 2022
For Immediate Release
Investment Corporation
Japan Real Estate Investment Corporation
Yutaka Yanagisawa, Executive Director
(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Shojiro Kojima, President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager Planning
Department
Phone: +81‐3‐3211‐7951
Announcement of Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to procure funds through a general syndication loan as follows:
1. Reason for the borrowing
To repay part of the existing general syndication loan of JPY 6.5 billion executed on August 10, 2015.
(Note1)
2. Overview of the borrowing | ||
(1) | Borrowing date: | August 10, 2022 |
(2) | Total amount: | JPY 5,500 million |
(3) | Arrangers and Agents: | Mizuho Bank, Ltd. and MUFG Bank, Ltd. |
(4) Lender, Amount of loan, Principal repayment date:
Lender | Amount of loan | Principal repayment date | |
(Repayable before the due date) | |||
The Shinkumi Federation Bank | JPY 3,000 million | ||
The Toho Bank, Ltd. | JPY 1,000 million | August 10, 2032 | |
The Keiyo Bank, Ltd. | JPY 1,000 million | ||
The Tochigi Bank, Ltd. | JPY 500 million | ||
(5) Interest rate: | To be determined (Note2) |
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- Method of borrowing:
- Interest payment date:
- Method of principal repayment:
Loan agreement dated August 8, 2022 with the agents and the lenders listed in (3) and (4) above
Unsecured/unguaranteed loan
The principal repayment date and the 10th of every February and August in the period until the principal repayment date (Note3) Lump‐sum repayment on the principal repayment date
(Note1) Of the JPY 6.5 billion, JPY 1 billion will be repaid using cash on hand.
(Note2) The interest rate will be announced as soon as it is determined.
(Note3) When an interest payment date is not a business day, the interest shall be paid on the following business day or the immediately preceding business day if the following business day is in the following month.
Overview of Existing Loan Subject to Repayment(1) Borrowing date:
(2) Lender, Amount of loan, Principal repayment date, Disclosed date:
Lender | Amount of loan | Principal repayment | Disclosed date |
date | |||
General syndication | JPY 6,500 million | August 10, 2022 | July 28, 2015 |
loan (Note4) | |||
(Note4) Lender and amount of loans as follows; JPY 1,000 million by The Gunma Bank, Ltd., The Shinkumi Federation Bank, Daishi Hokuetsu Bank, Ltd., The Chugoku Bank, Limited., The Toho Bank, Ltd., and The Fukui Bank, Ltd. respectively. JPY 500 million by The Tochigi Bank, Ltd.
3. Balance of interest‐bearing debt after the debt financing
(Units: millions of yen) | ||||
Before | After | Increase/Decrease | ||
Short‐term loans payable | 26,200 | 26,200 | ±0 | |
Long‐term loans payable | 21,000 | 21,000 | ±0 | |
(Variable interest rate) | ||||
Long‐term loans payable | 334,700 | 333,700 | ‐1,000 | |
(Fixed interest rate) | ||||
Total loans | 381,900 | 380,900 | ‐1,000 | |
Investment corporation bonds | 42,993 | 42,993 | ±0 | |
Total | 42,993 | 42,993 | ±0 | |
investment corporation bonds | ||||
Total interest‐bearing debt | 424,893 | 423,893 | ‐1,000 | |
4. Others
Regarding risks pertaining to this loan repayment, there is no material change to the descriptions of "Investment risks" in the latest securities report submitted on June 24, 2022.
This is the English translation of the announcement in Japanese dated August 1, 2022.
No assurance or warranties are given for the completeness or accuracy of this English translation.
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JREI - Japan Real Estate Investment Corporation published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 06:33:19 UTC.
