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JAPAN REAL ESTATE INVESTMENT CORPORATION

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

05/14/2021 | 11:11am EDT

NEWS RELEASE

May 14, 2021

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 February 18, 2021.

2. Overview of the borrowing

(1)

Borrowing date

May 18, 2021

(2)

Lender, Amount of loan, Principal repayment date

Lender

Amount of loan

Principal repayment date

MUFG Bank, Ltd. (Note)

JPY 11,000 million

August 18, 2021

(3)

Interest rate:

0. 10909% (Fixed)

(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

(Note) 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"). MUTB will form a money trust called "jointly‐operated designated money trust", in which the said loan receivable is placed as trust property, and then will manage the trust with money entrusted by investors. For more information, please refer to "Announcement of Debt Financing" dated November 8, 2019.

1

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

(Units: millions of JPY)

Before

After

Increase/Decrease

Short‐term loans payable

18,000

18,000

±0

Long‐term loans payable

20,000

20,000

±0

(Variable interest rate)

Long‐term loans payable

338,500

338,500

±0

(Fixed interest rate)

Total loans

376,500

376,500

±0

Investment corporation bonds

42,993

42,993

±0

Total

42,993

42,993

±0

investment corporation bonds

Total interest‐bearing debt

419,493

419,493

±0

4. Others

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

This is the English translation of the announcement in Japanese dated May 14, 2021.

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 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 15:10:05 UTC.


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Sales 2022 71 514 M 649 M 649 M
Net income 2022 31 720 M 288 M 288 M
Net Debt 2022 404 B 3 667 M 3 667 M
P/E ratio 2022 29,3x
Yield 2022 3,34%
Capitalization 935 B 8 477 M 8 488 M
EV / Sales 2022 18,7x
EV / Sales 2023 19,0x
Nbr of Employees -
Free-Float 85,0%
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Tomohiro Okanoya Supervisory Officer
Hiroaki Takano Supervisory Officer
Yutaka Yanagisawa Executive Officer
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