JAPAN REAL ESTATE INVESTMENT CORPORATION NEWS RELEASE
March 22, 2021
For Immediate Release
InvestmentCorporation
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 2 billion executed on March 24, 2014.
2. Overview of the borrowing
(1) | Amount of loan: | JPY 2,000 million |
(2) | Lender: | The Iyo Bank, Ltd. |
(3) | Interest rate: | Base rate (3‐month JPY TIBOR published by Japanese Bankers |
Association (hereinafter "JBA")) + 0.100% (Note1) | ||
(4) | Borrowing date | March 24, 2021 |
(5) | Method of borrowing: | Loan agreement dated March 22, 2021 |
Unsecured/unguaranteed loan | ||
(6) | Interest payment date: | The principal repayment date and the 24th of every March, June, |
September and December in the period until the principal | ||
repayment date (Note2) | ||
(7) | Method of principal repayment: | Lump‐sum repayment on the principal repayment date |
(8) | Principal repayment date | March 24, 2031 |
(Note1)・The base rate to calculate the interest to be paid on an interest payment date is JBA 3‐month JPY TIBOR as of the second preceding business day of the most recent interest payment date. (JBA 3‐month JPY
TIBOR as of AMarch 22, 2021 is 0.07909%.)
・For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration's website
(http://www.jbatibor.or.jp/english/rate/).
(Note2) 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 followingmonth.
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 (Variable interest rate) | 23,000 | 25,000 | +2,000 |
Long‐term loans payable (Fixed interest rate) | 335,500 | 333,500 | ‐2,000 |
Total loans | 376,500 | 376,500 | ±0 |
Investment corporation bonds | 42,993 | 42,993 | ±0 |
Total investment corporation bonds | 42,993 | 42,993 | ±0 |
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 March 22, 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 22 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2021 06:32:04 UTC.
