JAPAN REAL ESTATE INVESTMENT CORPORATION NEWS RELEASE
July 16, 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 long‐term loan of JPY 5 billion executed on January 19, 2018.
2. Overview of the borrowing
(1) | Borrowing date | July 20, 2021 | ||||
(2) | Lender, Amount of loan, Principal repayment date | |||||
Lender | Amount of loan | Principal repayment date | ||||
Sumitomo Mitsui Banking | JPY 5,000 million | July 22, 2025 | ||||
Corporation | ||||||
(3) | ||||||
Interest rate: | 0.15375% (Fixed) | |||||
(4) | Method of borrowing: | Loan agreement dated July 16, 2021 | ||||
Unsecured/unguaranteed loan | ||||||
(5) | Interest payment date: | The principal repayment date and the 20th of every January and | ||||
July in the period until the principal repayment date (Note) | ||||||
(6) | Method of principal repayment: | Lump‐sum repayment on the principal repayment date |
(Note) When an interest payment date is not a business day, the interest shall be paid on the following business day or the immediately preceding business day if the following business day is in the following month.
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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 June 25, 2021.
This is the English translation of the announcement in Japanese dated July 16, 2021.
No assurance or warranties are given for the completeness or accuracy of this English translation.
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JREI - Japan Real Estate Investment Corporation published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 06:32:04 UTC.
