Make The World
More Sustainable
[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
January 26, 2022
Issuer
Ichigo Office REIT Investment Corporation ("Ichigo Office," 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
www.ichigo-office.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Norio Nagamine, Head of Ichigo Office
Tel: +81-3-3502-4891
New Loan
Ichigo Office today decided to borrow funds via a new loan.
1. Loan Rationale
The new loan will be used to repay an existing loan (JPY 500 million). Details of the existing loan to be repaid are in Section 3 below.
2. New Loan Details
Loan | Repayment | Repayment | |||||||||
Loan Date | Lender | Amount | Interest Rate | Date | Collateralized | ||||||
(JPY million) | (Loan Term) | Terms | |||||||||
Jan 31, 2022 | Development Bank | 500 | TBD | Jan 25, 2029 | Lump-sum | No | |||||
of Japan | (fixed rate)1 | (7.0 years) | repayment | ||||||||
1 Interest payment date is the 25th of every third month following the first interest payment date (the first payment date will be April 25, 2022 and the last payment date will be the same as the principal repayment date). In the event the interest payment date is not a business day, payment shall be made on the following business day. If the following business day falls into the following month, payment shall be made on the previous business day. Ichigo Office will announce the interest rate after it is determined.
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3. | Existing Loan Being Repaid | |||||||||||
Loan | Repayment | Repayment | ||||||||||
Loan Date | Lender | Amount | Interest Rate | Date | Collateralized | |||||||
(JPY million) | (Loan Term) | Terms | ||||||||||
Nov 2, 2016 | Development Bank | 500 | 0.70801% | Jan 31, 2022 | Lump-sum | No | ||||||
of Japan | (fixed rate) | (5.3 years) | repayment | |||||||||
4. | Earnings Outlook |
The impact of the new loan on Ichigo Office's April 2022 and October 2022 fiscal period earnings has already been reflected in the forecast presented in Ichigo Office's December 14, 2021 release "October 2021 Fiscal Period Earnings."
5. Other
Risks related to the loan have no material impact on the "Investment Risks" described in the latest Financial Report submitted on July 29, 2021.
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Loan and Bond Composition after New Loan | |||||||||||||
Outstanding Loan and Bond Balance | (JPY | million) | |||||||||||
Before | After | Change | |||||||||||
New Loan | New Loan | ||||||||||||
(B) - (A) | |||||||||||||
(A) | (B) | ||||||||||||
Short-term bank loans | - | - | - | ||||||||||
Long-term bank loans | 104,334 | 104,334 | - | ||||||||||
Total bank loans | 104,334 | 104,334 | - | ||||||||||
Bonds | 6,900 | 6,900 | - | ||||||||||
Total bank loans and bonds | 111,234 | 111,234 | - | ||||||||||
Distribution of Loan and Bond Maturities
Before New Loan
■ Bank Loans (floating rate) | ■ Bank Loans (fixed rate) | ■ Bonds | ||||||||
9,633 | 9,623 | 9,812 | 9,056 | |||||||
8,846 | 8,908 | |||||||||
7,647 | 1,000 | 1,200 | 7,767 | |||||||
7,346 | ||||||||||
1,000 | ||||||||||
4,600 | 5,494 | 4,947 | 4,899 | |||||||
7,953 | ||||||||||
4,192 | 7,246 | 4,118 | ||||||||
7,856 | 4,027 | 1,200 | ||||||||
1,000 | ||||||||||
2,900 | 6,346 | |||||||||
3,047 | 2,000 | 3,118 | 3,747 | |||||||
500 | ||||||||||
900 | 955 | |||||||||
600 |
(JPY million)
1,500
Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr |
2022 | 2022 | 2023 | 2023 | 2024 | 2024 | 2025 | 2025 | 2026 | 2026 | 2027 | 2027 | 2028 | 2028 | 2029 | 2029 | 2030 | 2030 | 2031 | 2031 | 2032 |
After New Loan
■ Bank Loans (floating rate) | ■ Bank Loans (fixed rate) | ■ New Loan | ■ Bonds | (JPY million) | ||||||||||||||||||
9,633 | 9,623 | 9,812 | 9,056 | |||||||||||||||||||
8,846 | 8,908 | 8,267 | ||||||||||||||||||||
1,000 | 1,200 | |||||||||||||||||||||
7,647 | ||||||||||||||||||||||
7,346 | 500 | |||||||||||||||||||||
1,000 | ||||||||||||||||||||||
4,600 | 5,494 | 7,953 | 4,947 | 4,899 | ||||||||||||||||||
4,192 | 4,118 | 4,027 | ||||||||||||||||||||
7,246 | 7,856 | 1,200 | ||||||||||||||||||||
2,900 | 6,346 | 1,000 | 7,767 | |||||||||||||||||||
3,047 | 2,000 | 3,118 | 3,747 | 1,500 | ||||||||||||||||||
900 | 600 | 955 | ||||||||||||||||||||
Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | Oct | Apr | ||
2022 | 2022 | 2023 | 2023 | 2024 | 2024 | 2025 | 2025 | 2026 | 2026 | 2027 | 2027 | 2028 | 2028 | 2029 | 2029 | 2030 | 2030 | 2031 | 2031 | 2032 |
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Disclaimer
Ichigo Office REIT Investment Corporation published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 06:25:09 UTC.