ADVANCE RESIDENCE INVESTMENT CORPORATION June 23, 2021
For Immediate Release
Advance Residence Investment Corporation
Securities Code：3269
1-105Kanda-Jinbocho,Chiyoda-ku, Tokyo
Wataru Higuchi, Executive Director
Asset Management Company:
AD Investment Management Co., Ltd.
Takeshi Takano, President
Inquiries:
Isao Kudo, Director
TEL. +81-3-3518-0480
Notice Concerning Debt Financing Interest Rate and Signing of Interest Rate Swap Agreement
Advance Residence Investment Corporation (ADR) announced that out of the 1,919 million long-term loan to be drawn-down on June 25, 2021, interest rates for the 1,000 million yen fixed rate 8 year tranche of the loan has been set as follows.
Additionally, ADR announced that an interest rate swap agreement has been entered to hedge against the risk of interest rate fluctuation for the 919 million yen floating rate 10 year tranche of the loan as detailed below.
Note 1 Please refer to the "Notice Concerning Debt Financing and Repayment of Loans" dated June 16, 2021 for details.
1. Debt Financing (draw-down date: June 25, 2021)
- Details of the Debt Financing
(JPY:million) | ||||||||||||||
Planned | Scheduled | Principal | Repayment | Principal | Collateral/ | |||||||||
Lender | Draw-down | Interest Rate | Repayment | |||||||||||
Date | Amount | date | Period | Repayment | Guarantee | |||||||||
June | 0.27750% | June | Pay in full | Unsecured | ||||||||||
Aozora Bank, Ltd. | 1,000 | 8.0 year | on the | |||||||||||
25, 2021 | 25, 2029 | Non-guaranteed | ||||||||||||
maturity date | ||||||||||||||
1
[Provisional Translation]
The 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 Interest Rate Swap Agreement
- Loan to be hedged : Long-term loans (919 million yen, 10 year)
- Contract date of interest rate swap agreement : June 23, 2021
Notional | Contract | Contract | Repayment | Interest rate | ||
Counterparty | principal | |||||
start date | end date | period | ||||
(mm yen) | Pay | Receive | ||||
(Fixed rate) | (Floating-rate) | |||||
Mizuho Bank, Ltd. | 919 | June | June | 10.0 year | 0.09070% | 3 month yen |
25, 2021 | 25, 2031 | （Note2） | TIBOR（Note2） |
Note 2 Interest payment dates are the last business day of every January, April, July, October starting July 30, 2021 and ending on the principal repayment date.
The interest rate for the loan above is to be basically fixed at 0.29070% by entering the interest rate swap agreement.
About Advance Residence Investment Corporation
Advance Residence Investment Corporation is the largest residential J-REIT, investing in over 270 rental apartments located mostly in central Tokyo and in other major cities throughout Japan (AUM over 450 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.
ADR's website:https://www.adr-reit.com/en/
2
[Provisional Translation]
The 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.
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Disclaimer
Advance Residence Investment Corporation published this content on 23 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2021 06:32:01 UTC.
