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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 Loan Prepayment and Debt Financing

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09/17/2020 | 02:35am EDT

NEWS RELEASE

September 17, 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 Loan Prepayment and Debt Financing

Japan Real Estate Investment Corporation hereby announces its decision today to refinance part of an existing short‐term loan before the due date with a long‐term loan as follows:

1. Loan prepayment

(I)

Prepayment date:

September 23, 2020

(II)

Prepayment amount:

JPY 5,000 million

  1. Overview of loan to be repaid before the due date:

Lender

Sumitomo Mitsui Trust Bank, Limited

Amount of loan

JPY 7,000 million

Outstanding balance after this

JPY 2,000 million

prepayment

Borrowing date

April 20, 2020

Principal repayment date

April 20, 2021

Interest rate

0.090%

(from August 20, 2020 through September 22, 2020)

Method of borrowing

Loan based on overdraft agreement

Unsecured/unguaranteed loan

Method of principal repayment

Lump‐sum repayment on the principal repayment date

*There will be no early repayment fee due to this loan prepayment.

1

2. Debt Financing

  1. Reason for the borrowing

To apply the following loan to the prepayment of the above mentioned loan of JPY 5,000 million. (II) Overview of the borrowing

(1)

Amount of loan

JPY 5,000 million

(2)

Lender

Sumitomo Mitsui Trust Bank, Limited

(3)

Interest rate

0.1475% (fixed)

(4)

Borrowing date

September 23, 2020

(5)

Method of borrowing

Loan agreement dated September 17, 2020

Unsecured/unguaranteed loan

(6)

Interest payment date

23rd of every March and September until the principal

repayment date (Note)

(7)

Method of principal repayment

Lump‐sum repayment on the principal repayment date

(8)

Principal repayment date

September 24, 2025

(Note1) In the event that an interest payment date does not fall on a business day, the interest shall be paid on the following business day. If the following business day, however, falls in the following month, the payment shall be made on the immediately preceding business day of the interest payment date.

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

(Units: millions of JPY)

Before

After

Increase/Decrease

Short‐term loans payable

36,000

31,000

‐5,000

Long‐term loans payable

23,000

23,000

±0

(Variable interest rate)

Long‐term loans payable

327,000

332,000

+5,000

(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 September 17, 2020.

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

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

JREI - Japan Real Estate Investment Corporation published this content on 17 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2020 06:34:07 UTC

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Sales 2021 70 094 M 664 M 664 M
Net income 2021 30 294 M 287 M 287 M
Net Debt 2021 399 B 3 777 M 3 777 M
P/E ratio 2021 24,7x
Yield 2021 4,02%
Capitalization 745 B 7 060 M 7 060 M
EV / Sales 2021 16,3x
EV / Sales 2022 18,9x
Nbr of Employees -
Free-Float 85,6%
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Last Close Price 538 000,00 
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Managers
NameTitle
Tomohiro Okanoya Supervisory Officer
Hiroaki Takano Supervisory Officer
Yutaka Yanagisawa Executive Officer
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