DAIWA OFFICE INVESTMENT CORPORATION This translation of the original Japanese notice is provided solely for information purposes. Should there be any discrepancy between this translation and the Japanese original, the latter shall prevail.
June 28, 2021
REIT Issuer: Daiwa Office Investment Corporation (Stock Code No.: 8976)
Representative: Seiya Miyamoto, Executive Director
Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.
Representative: Toshio Fukushima, President and Representative Director
Inquiries to: Takashi Chiba, General Manager, Corporate Division (Tel: +81-3-6215-9649)
Notice Concerning Conclusion of Swap Agreement
We hereby give notice that Daiwa Office Investment Corporation (the "Investment Corporation") has concluded the interest-rate swap agreements (the "Swap Agreement") regarding portions of the existing debt loans with floating-rate (the "Floating-rate Borrowing") (the total notional principal: JPY 14,400 million), as follows.
1. Summary of the Swap Agreement for the Floating-rate Borrowing
Notional | Interest-Rate | Scheduled | Scheduled | |||
Lender | Principal | Counterparty | Fixed-rate | Floating- | Commence | Termination |
(JPY million) | rate | ment Date | Date | |||
Payment | ||||||
Receipt | ||||||
Resona Bank, Limited. | 2,000 | 0.066% | 3 month | 2029/2/28 | ||
Sumitomo Mitsui Trust | ||||||
1,000 | 0.066% | JPY | 2029/2/28 | |||
Bank, Limited | TIBOR | |||||
Resona Bank, Limited. | 2,000 | 0.072% | (Note 1) | 2029/9/28 | ||
Sumitomo Mitsui | 2,400 | 3 month | ||||
Banking Corporation | ||||||
0.081% | JPY | 2030/3/29 | ||||
Resona Bank, Limited. | 2,000 | Daiwa | TIBOR | |||
Securities Co. | (Note 2) | 2021/6/30 | ||||
Ltd. | ||||||
Kansai Mirai Bank, Ltd | 2,000 | |||||
0.087% | 2030/8/30 | |||||
The Musashino Bank, | 1,000 | 3 month | ||||
Ltd. | JPY | |||||
Momiji Bank,Ltd. | 1,000 | 0.096% | TIBOR | 2031/2/28 | ||
(Note 1) | ||||||
The 77 Bank, Ltd. | 1,000 | 0.102% | 2031/5/30 | |||
(Note 1) Interest payments are due at the end of February, May, August and November (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). The interest rate shall be calculated based on JPY TIBOR for 3 month, which the JBA TIBOR Administration (the"JBATA") releases two business days before each interest payment date. The JPY TIBOR of the JBATA is available on the JBATA website (http://www.jbatibor.or.jp/english/rate/).
(Note 2) Interest payments are due at the end of February, May, August and November (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). The interest rate shall be calculated based on JPY TIBOR for 3 month. For the final calculation period, the rate shall be calculated based on JPY TIBOR for 1 month, which the JBA TIBOR Administration (the "JBATA") releases two business days before each interest payment date. The JPY TIBOR of the JBATA is available on the JBATA website.
(Note 3) Interest rates for applicable period shall be announced at http://www.daiwa-office.co.jp/en_cms/finance/money.html.
- Purpose of the Swap Agreement for the Floating-rate Borrowing
The Investment Corporation concluded the Swap Agreement to offset the risks of possible increase of the future interest rate by converting from floating-rate to fixed-rate for the above Floating-rate Borrowings. - Fixed Interest-Rate after Concluding the Swap Agreement
Lender | Amount | Current Floating | Fixed Interest | Borrowing | Repayment |
(JPY million) | Interest-rate | - Rate | Date | Date | |
Resona Bank, Limited. | 2,000 | 3 month JPY | 0.416% | 2020/2/28 | 2029/2/28 |
TIBOR + 0.35% | |||||
Sumitomo Mitsui Trust | 1,000 | 3 month JPY | 0.416% | 2021/2/26 | 2029/2/28 |
Bank, Limited | TIBOR + 0.35% | ||||
Resona Bank, Limited. | 2,000 | 3 month JPY | 0.472% | 2019/9/30 | 2029/9/28 |
TIBOR + 0.40% | |||||
Sumitomo Mitsui | 2,400 | ||||
Banking Corporation | 3 month JPY | ||||
0.481% | 2021/3/31 | 2030/3/29 | |||
Resona Bank, Limited. | 2,000 | TIBOR + 0.40% | |||
Kansai Mirai Bank, Ltd | 2,000 | 3 month JPY | |||
0.487% | 2020/8/31 | 2030/8/30 | |||
The Musashino Bank, | 1,000 | TIBOR + 0.40% | |||
Ltd. | |||||
Momiji Bank,Ltd. | 1,000 | 3 month JPY | 0.546% | 2021/2/26 | 2031/2/28 |
TIBOR + 0.45% | |||||
The 77 Bank, Ltd. | 1,000 | 3 month JPY | 0.552% | 2021/5/31 | 2031/5/30 |
TIBOR + 0.45% | |||||
-End-
[Reference]
Ratio of Fixed-Rate and Floating-RateInterest-Bearing Liabilities (Assumed as of June 30, 2021)
Before | After | |
Fixed-rateinterest-bearing | 78.95％ | 86.03％ |
liabilities | ||
Floating-rateinterest-bearing | 21.05％ | 13.97％ |
liabilities | ||
* Website URL of the Investment Corporation: | http://www.daiwa-office.co.jp/en/ |
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Disclaimer
Daiwa Office Investment Corporation published this content on 28 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 19:42:04 UTC.
