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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Japan Real Estate Investment Corporation    8952   JP3027680002

JAPAN REAL ESTATE INVESTMENT CORPORATION

(8952)
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Japan Real Estate Investment : Announcement of Debt Financing

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08/12/2020 | 02:33am EDT

NEWS RELEASE

August 12, 2020

For Immediate Release

Investment Corporation

Japan Real Estate Investment Corporation

Yutaka Yanagisawa, Executive Director

(TSE code: 8952)

Asset Management Company

Japan Real Estate Asset Management Co., Ltd.

Naoki Umeda, President & CEO

Contact: Masaru Motooka

Executive Officer & General Manager

Planning Department

Phone: +81‐3‐3211‐7951

Announcement of Debt Financing

Japan Real Estate Investment Corporation hereby announces its decision today to procure funds as follows:

1. Reason for the borrowing

Repayment of the existing short‐term loan of JPY 11 billion executed on May 18, 2020.

2. Outline of the borrowing

(1)

Borrowing date

August 18, 2020

(2)

Lender, Amount of loan, Principal repayment date

Lender

Amount of loan

Principal repayment date

MUFG Bank, Ltd. (Note1)

JPY 11,000 million

November 18, 2020

(3)

Bankers

Interest rate:

Base rate ( 3‐month JPY

TIBOR published by Japanese

Association (hereinafter "JBA")) + 0.040% (Note2)

(4)

Method of borrowing:

Loan based on overdraft agreement

Unsecured/unguaranteed loan

(5)

Interest payment date:

The principal repayment date

(6)

Method of principal repayment:

Lump‐sum repayment on the principal repayment date

(Note1) The lender, MUFG Bank, Ltd., will assign all or part of the loan receivable to be owed by JRE to Mitsubishi UFJ Trust and Banking Corporation ("MUTB"), and then MUTB will form a money trust called "jointly‐operated designated money trust". In the money trust operations, MUTB manages their investors' money in trust, whose investment destination is designated as the said loan receivable. For more information, please refer to "Announcement of Debt Financing" dated November 8, 2019.

(Note2) The base rate to calculate the interest to be paid on the interest payment date is JBA 3‐month JPY TIBOR as of the second preceding business day of the borrowing date. (JBA 3‐month JPY TIBOR as of August 12, 2020 is 0.06909%.)

1

3. Balance of interest‐bearing debt after the debt financing

(Units: millions of JPY)

Before

After

Increase/Decrease

Short‐term loans payable

36,000

36,000

±0

Long‐term loans payable

23,000

23,000

±0

(Variable interest rate)

Long‐term loans payable

327,000

327,000

±0

(Fixed interest rate)

Total loans

386,000

386,000

±0

Investment corporation bonds

32,993

32,993

±0

Total

32,993

32,993

±0

investment corporation bonds

Total interest‐bearing debt

418,993

418,993

±0

4. Others

Regarding risks pertaining to this loan repayment, there is no material change to the "Investment risks" description in the latest securities report submitted on June 25, 2020.

This is the English translation of the announcement in Japanese dated August 12, 2020.

No assurance or warranties are given for the completeness or accuracy of this English translation.

2

Disclaimer

JREI - Japan Real Estate Investment Corporation published this content on 12 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2020 06:32:15 UTC


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Sales 2021 70 094 M 666 M 666 M
Net income 2021 30 425 M 289 M 289 M
Net Debt 2021 399 B 3 788 M 3 788 M
P/E ratio 2021 24,0x
Yield 2021 4,15%
Capitalization 723 B 6 849 M 6 871 M
EV / Sales 2021 16,0x
EV / Sales 2022 18,5x
Nbr of Employees -
Free-Float 85,6%
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Last Close Price 522 000,00 
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Managers
NameTitle
Tomohiro Okanoya Supervisory Officer
Hiroaki Takano Supervisory Officer
Yutaka Yanagisawa Executive Officer
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