NEWS RELEASE
August 16, 2022
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.
Shojiro Kojima , 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, 2022.
2. Overview of the borrowing
(1) | Borrowing date | August 18, 2022 | ||||
(2) | Lender, Amount of loan, Principal repayment date | |||||
Lender | Amount of loan | Principal repayment date | ||||
MUFG Bank, Ltd. (Note) | JPY 11,000 million | November 18, 2022 | ||||
(3) | ||||||
Interest rate: | 0.10364% (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.
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(1) Borrowing date: | May 18, 2022 | ||||||||||
(2) Lender, Amount of loan, Principal repayment date, Disclosed date: | |||||||||||
Lender | Amount of loan | Principal repayment | Disclosed date | ||||||||
date | |||||||||||
MUFG Bank, Ltd. | JPY 11,000 million | August 18, 2022 | May 16, 2022 | ||||||||
3. Balance of interest‐bearing debt after the debt financing | (Units: millions of JPY) | ||||||||||
Before | After | Increase/Decrease | |||||||||
Short‐term loans payable | 23,200 | 23,200 | ±0 | ||||||||
Long‐term loans payable | 21,000 | 21,000 | ±0 | ||||||||
(Variable interest rate) | |||||||||||
Long‐term loans payable | 336,700 | 336,700 | ±0 | ||||||||
(Fixed interest rate) | |||||||||||
Total loans | 380,900 | 380,900 | ±0 | ||||||||
Investment corporation bonds | 42,993 | 42,993 | ±0 | ||||||||
Total | 42,993 | 42,993 | ±0 | ||||||||
investment corporation bonds | |||||||||||
Total interest‐bearing debt | 423,893 | 423,893 | ±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 24, 2022.
This is the English translation of the announcement in Japanese dated August 16, 2022.
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 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 15:53:39 UTC.