Provisional translation only
September 25, 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. The borrowing is a green loan (the "Green Loan") to be taken out based on the green finance framework established by FRC. For more information of the green loan and the green finance framework, please refer to the press release "Notice Concerning Borrowing of Funds" dated June 21, 2022.
1. Borrowing of funds
- Reason for borrowings Refinancing on existing borrowing
- Outline of borrowings (Note1) Borrowing 1 (long-term debt (Note 2))
1. | Lender: | The Nishi-Nippon City Bank, Ltd. |
2. Amount: | 2.0 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Borrowing date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2030 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 2 (long-term debt (Note 2)) | ||
1. | Lender: | The Nishi-Nippon City Bank, Ltd. |
2. Amount: | 1.9 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Borrowing date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2031 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
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Borrowing 3 (long-term debt (Note 2))
1. | Lender: | The Nishi-Nippon City Bank, Ltd. |
2. Amount: | 1.0 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Borrowing date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2033 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 4 (long-term debt (Note 2)) | ||
1. | Lender: | SBI Shinsei Bank, Limited |
2. Amount: | 0.6 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Drawdown date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2028 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 5 (long-term debt (Note 2)) | ||
1. | Lender: | The Higo Bank, Ltd. |
2. Amount: | 0.6 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Drawdown date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2028 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 6 (long-term debt (Note 2)) | ||
1. | Lender: | The Iyo Bank, Ltd. |
2. Amount: | 0.5 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Drawdown date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2028 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 7 (long-term debt (Note 2)) | ||
1. Lender: | THE KAGOSHIMA BANK, LTD. | |
2. Amount: | 0.3 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Drawdown date: | September 29, 2023 |
5. | Borrowing method: | Loan agreement concluded on September 27, 2023 |
6. | Repayment date: | September 30, 2028 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
(Note 1) As announced in the "Notice Concerning Debt Financing" dated September 19, 2023, FRC has decided today to refinance 5.5 billion yen after October 31, 2023 through the use of existing commitment lines. The lender, borrowing date, economic terms, etc. are yet to be determined at this time. It will be announced as soon as they are determined.
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(Note 2) Borrowings by green loan as refinancing of borrowings.
(Note 3) Interest rate will be announced once determined.
- Outline of refinancing Refinancing 1 (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% | |||||
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 | |||||
Refinancing 2 (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% | |||||
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 | |||||
2. Status of Debt after Borrowing | (mm yen) | ||||||
Before borrowing | After borrowing | Change | |||||
Short-term debt (Note 4) | 12,400 | 5,500 | (6,900) | ||||
Long-term debt | 81,450 | 88,350 | 6,900 | ||||
Of which, long-term debt payable due | [5,200] | [5,200] | [0] | ||||
within one year | |||||||
Total | 93,850 | 93,850 | 0 | ||||
Investment corporation bonds | 5,000 | 5,000 | 0 | ||||
Total Interest-bearing debt | 98,850 | 98,850 | 0 | ||||
(Note 4) The borrowings are used from committed credit line [13,000 mm yen]
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 37h Fiscal Period (submitted on May 30, 2023).
*FRC's website ishttps://www.fukuoka-reit.jp/en/index.html
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Fukuoka REIT Corporation published this content on 25 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2023 07:06:07 UTC.