September 13, 2021
For Immediate Release
Name of REIT Issuer:
CRE Logistics REIT, Inc.
2-10-1, Toranomon, Minato-ku, Tokyo, Japan
Tsuyoshi Ito, Executive Director
(TSE Code: 3487)
Asset Manager
CRE REIT Advisers, Inc.
Tsuyoshi Ito, President
Person of Contact:
Hirohisa Toda, Head of Corporate Planning
Tel: +81-3-5575-3600
Notice Concerning Borrowing of Funds (Partial Cancellation and Reduction and Final
Determination of Loan Amounts from Lenders)
CRE Logistics REIT, Inc. ("CRE REIT") hereby announces that on September 13, 2021 it made the decision to cancel some of the borrowings (the "Borrowings") announced on September 2, 2021 in the "Notice Concerning Borrowing of Funds (including Green Loan)" and reduce the loan amounts (the "Cancellation and Reduction"). Details are as follows. CRE REIT also announces that some of the loan amounts of the Borrowings from each lender, which were not yet determined, have been fixed.
1. Details of the Cancellation and Reduction
CRE REIT has decided to cancel the new borrowing of the long-term loan payable of 600 million yen from Sumitomo Mitsui Banking Corporation, which is a part of the Borrowings, and reduce the amount of the long- term loan payable of 1,900 million yen from Sumitomo Mitsui Banking Corporation to 1,000 million yen , taking into consideration the final determination of the funds amount to be raised by means of the issuance of new investment units announced on September 2, 2021 in the "Notice Concerning Issuance of New Investment Units (Green Equity Offering)."
2. Details of Final Determination of Breakdown of Loan Amounts by Each Lender
Of the Borrowings announced on September 2, 2021 in the "Notice Concerning Borrowing of Funds
(including Green Loan)," the loan amount from each lender has been fixed for the loan payables of 4,000 million yen and 3,500 million yen.
Disclaimer: This press release is intended to disclose to the public the borrowing of funds (partial cancellation and reduction and final determination of loan amounts from lenders), and is not an offer to sell or a solicitation of any offer to buy the securities of CRE REIT in the United States or elsewhere. Any investment decision should be made based upon your own judgement. This press release does not constitute an offer of securities in the United States of America. The investment units have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The investment units may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The investment units referred to above will not be offered, publicly or otherwise, in the United States
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3. Details of the Borrowings after the Cancellation and Reduction
Catego
ry
payable loans term-Long
Loan | Repay | ||||||||||||
amount | Interest | Drawdown | Borrowing | Repayment | |||||||||
Lender | ment | Notes | |||||||||||
(million | rate | date | method | date | |||||||||
method | |||||||||||||
yen) | |||||||||||||
Sumitomo Mitsui Banking | 600 | ||||||||||||
Corporation | |||||||||||||
Mizuho Bank, Ltd. | 500 | ||||||||||||
The Shizuoka Bank, Ltd. | 450 | ||||||||||||
Development Bank of Japan | 350 | ||||||||||||
Inc. | |||||||||||||
MUFG Bank, Ltd. | 350 | ||||||||||||
The Bank of Fukuoka Ltd. | 250 | ||||||||||||
Base rate | March 31, | ||||||||||||
The Hyakujushi Bank, Ltd. | 250 | +0.475% | |||||||||||
2027 | |||||||||||||
(Note 1) | |||||||||||||
The Yamaguchi Bank, Ltd. | 250 | ||||||||||||
Sumitomo Mitsui Trust Bank, | 200 | ||||||||||||
Limited | |||||||||||||
Shinsei Bank, Limited | 200 | ||||||||||||
Borrowing | |||||||||||||
Aozora Bank, Ltd. | 200 | ||||||||||||
based on | Lump- | ||||||||||||
individual | |||||||||||||
The Bank of Toyama, Ltd. | 200 | sum | Unsecu | ||||||||||
loan | |||||||||||||
September | repaym | red | |||||||||||
agreements | |||||||||||||
The Yamanashi Chuo Bank, | 15, 2021 | ent at | Unguar | ||||||||||
200 | concluded | ||||||||||||
Ltd. | maturit | anteed | |||||||||||
on | |||||||||||||
y | |||||||||||||
Sumitomo Mitsui Banking | 650 | September | |||||||||||
Corporation | 13, 2021 | ||||||||||||
Mizuho Bank, Ltd. | 550 | ||||||||||||
Development Bank of Japan | 500 | ||||||||||||
Inc. | |||||||||||||
Shinsei Bank, Limited | 400 | ||||||||||||
Base rate | September | ||||||||||||
Aozora Bank, Ltd. | 400 | +0.500% | |||||||||||
30, 2027 | |||||||||||||
(Note 2) | |||||||||||||
The Yamaguchi Bank, Ltd. | 300 | ||||||||||||
Sumitomo Mitsui Trust Bank, | 250 | ||||||||||||
Limited | |||||||||||||
The Yamanashi Chuo Bank, | 250 | ||||||||||||
Ltd. | |||||||||||||
The Hyakujushi Bank, Ltd. | 200 | ||||||||||||
Mizuho Bank, Ltd. | 1,000 | Base rate | September | ||||||||||
+0.300% | 30, 2022 | ||||||||||||
Sumitomo Mitsui Banking | 1,000 | Base rate | September | ||||||||||
Corporation | +0.300% | 30, 2022 | |||||||||||
Total | 9,500 | - | - | - | - | - | - | ||||||
(Note 1) The interest rate is effectively fixed at 0.546% by concluding an interest rate swap agreement. For details of the interest rate swap agreement, please refer to the "Notice Concerning Conclusion of Interest Rate Swap Agreement" dated September 9, 2021.
(Note 2) The interest rate is effectively fixed at 0.576% by concluding an interest rate swap agreement. For details of the interest rate swap agreement, please refer to the "Notice Concerning Conclusion of Interest Rate Swap Agreement" dated September 9, 2021.
Disclaimer: This press release is intended to disclose to the public the borrowing of funds (partial cancellation and reduction and final determination of loan amounts from lenders), and is not an offer to sell or a solicitation of any offer to buy the securities of CRE REIT in the United States or elsewhere. Any investment decision should be made based upon your own judgement. This press release does not constitute an offer of securities in the United States of America. The investment units have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The investment units may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The investment units referred to above will not be offered, publicly or otherwise, in the United States
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4. Status of Loans, etc. after the Borrowings
(Million yen) | ||||
Before the Borrowings | After the Borrowings | Increase or decrease | ||
Short-term loans payable | ― | ― | ― | |
Long-term loans payable (Note) | 50,369 | 59,869 | 9,500 | |
Total loans | 50,369 | 59,869 | 9,500 | |
Investment corporation bonds | 2,000 | 2,000 | ― | |
Total interest-bearing debt | 52,369 | 61,869 | 9,500 | |
(Note) Long-term loans payable include the current portion of loans that will be due within one year from today.
5. Future Outlook
The impact of this matter is immaterial, and there is no change in the results forecasts for the fiscal period
ending December 31, 2021 and the fiscal period ending June 30, 2022 announced on September 2, 2021 in the "Notice Concerning Revision of Forecasts of Operating Results for the Period ending December 31, 2021 and the Period ending June 30, 2022."
6. Other Matters Necessary for Investors to Understand and Assess This Information Properly
With respect to risks related to the Borrowings, no significant changes have been made to details described
in "Part 2. Reference information, 2. Reference material: Supplement information, (3) Investment risk" of the
securities registration statement on September 2, 2021 and "Part 1: Information on the Fund, 1. Situation of the Fund, (3) Investment risk" of the securities report on March 30, 2021.
* CRE Logistic REIT, Inc. website: https://cre-reit.co.jp/en/
Disclaimer: This press release is intended to disclose to the public the borrowing of funds (partial cancellation and reduction and final determination of loan amounts from lenders), and is not an offer to sell or a solicitation of any offer to buy the securities of CRE REIT in the United States or elsewhere. Any investment decision should be made based upon your own judgement. This press release does not constitute an offer of securities in the United States of America. The investment units have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The investment units may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The investment units referred to above will not be offered, publicly or otherwise, in the United States
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CRE Logistics REIT Inc. published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 06:01:01 UTC.