FUKUOKA REIT CORPORATION Provisional translation only
August 22, 2023
Fukuoka REIT Corporation
1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City
Zenji Koike
Executive Director
(Securities Code: 8968)
Asset Management Company:
Fukuoka Realty Co., Ltd.
1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City
Zenji Koike
President and CEO
Inquiries:
Hiroyuki Ayabe
Executive Officer and General Manager
Finance Department
TEL: +81-(0)92-272-3900
Notice Concerning Borrowing of Funds
Fukuoka REIT Corporation (FRC) announces that it will conduct the borrowing of funds, as described below. This borrowing is a green loan based on the Green Finance Framework established by FRC. For more information on the Green Loan and our Green Financing Framework, please refer to the Attachment to the "Notice of Borrowing of Funds" dated June 21, 2022.
1. Borrowing of funds
- Reason for borrowing
To fund part of the acquisition of real estate trust beneficiary interest "Hakata FD Business Center" (Note1). (Note1) For the overview of the real estate trust beneficiary interest (Hakata FD Business Center), please refer to "Fukuoka REIT Corporation Concludes Agreement to Purchase a New Property" announced dated March 30, 2023.
- Outline of borrowing
Borrowing 1 (long-term debt (Note2))
1. | Lender: | Development Bank of Japan Inc. |
2. Amount: | 2.0 billion yen | |
3. | Interest rate: | To be announced (Note3) Fixed interest rate |
4. | Borrowing date: | August 31, 2023 |
5. | Borrowing method: | Loan agreement concluded as of August 29, 2023. |
6. | Repayment date: | August 31, 2029 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 2 (long-term debt (Note2)) | ||
1. | Lender: | Development Bank of Japan Inc. |
2. Amount: | 2.0 billion yen | |
3. | Interest rate: | To be announced (Note3) Fixed interest rate |
4. | Borrowing date: | August 31, 2023 |
5. | Borrowing method: | Loan agreement concluded as of August 29, 2023. |
6. | Repayment date: | February 28, 2030 |
7. | Repayment method: | Lump-sum upon maturity |
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8. Description: | No collateral, No guarantee | |
Borrowing 3 (short-term debt ) | ||
1. Lender: | The Nishi-Nippon City Bank, Ltd., Resona Bank, Limited, The Oita | |
Bank, Ltd., The Bank of Nagasaki, Ltd., The Bank of Saga, Ltd. | ||
2. Amount: | 6.9 billion yen | |
3. | Interest rate: | Base interest rate (JBA 1-month Japanese Yen TIBOR) + 0.35% (Note4) |
4. Borrowing date: | September 1, 2023 | |
5. | Borrowing method: | Submitted loan application form based on commitment line contract as |
of February 28, 2023. | ||
6. | Repayment date: | September 29, 2023 |
7. Repayment method: | Lump-sum upon maturity | |
8. | Description: | No collateral, No guarantee |
Borrowing 4 (short-term debt) | ||
1. | Lender: | The Bank of Fukuoka Ltd., Resona Bank, Limited |
2. Amount: | 5.5 billion yen | |
3. | Interest rate: | Base interest rate (JBA 1-month Japanese Yen TIBOR) + 0.35% (Note4) |
4. Borrowing date: | September 1, 2023 | |
5. | Borrowing method: | Submitted loan application form based on commitment line contract as |
of July 31, 2023. | ||
6. | Repayment date: | September 29, 2023 |
7. Repayment method: | Lump-sum upon maturity | |
8. | Description: | No collateral, No guarantee |
(Note 2) Borrowings by green loan as refinancing of acquisition of Canal City Hakata.
(Note 3) Interest rate will be announced once determined.
(Note 4)The applied base interest rate is the JBA 1-month Japanese Yen TIBOR two business days before the borrowing date. Moreover, JBA Japanese Yen TIBOR can be checked on the website of JBA TIBOR Administration.
(http://www.jbatibor.or.jp/english/rate/)
- Outline of refinancing Refinancing 1 (long-termdebt)
1. | Lender: | Development Bank of Japan Inc. |
2. Amount: | 4.0 billion yen | |
3. | Repayment date: | August 31, 2023 |
4. | Repayment method: | Lump-sum upon maturity |
5. | Description: | No collateral, No guarantee |
6. | Disclosure date: | August 26, 2015 |
2. Status of Debt after Borrowing
(mm yen) | ||||
Before borrowing | After borrowing | Change | ||
Short-term debt | 0 | 12,400 | 12,400 | |
Long-term debt | 81,450 | 81,450 | 0 | |
Of which, long-term debt payable due within | ［9,200］ | ［5,200］ | ［(4,000)］ | |
one year | ||||
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Total | 81,850 | 94,250 | 94,250 |
Investment corporation bonds | 5,000 | 5,000 | 0 |
Total Interest-bearing debt | 86,450 | 98,850 | 12,400 |
3. Others
Concerning risks related to repayments of this borrowing, etc., there are no material changes from the "Investment risks" disclosed in the latest Securities Report for the 37th Fiscal Period (submitted on May 30, 2023).
*FRC's website isFukuoka REIT Corporation(fukuoka-reit.jp)
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Attachments
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Disclaimer
Fukuoka REIT Corporation published this content on 22 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2023 07:05:06 UTC.
