Translation of Japanese Original
September 18, 2020
To All Concerned Parties
REIT Issuer:
Kenedix Residential Next Investment Corporation
Representative: Keisuke Sato, Executive Director
(Securities Code: 3278)
Asset Management Company:
Kenedix Real Estate Fund Management, Inc.
Representative: Masahiko Tajima, President & CEO
Contact:Shin Yamamoto, Head of Planning
Division, Residential REIT Department
TEL:+81-3-5157-6011
Notice Concerning Execution of Interest Rate Swap Agreement
Kenedix Residential Next Investment Corporation (the "Investment Corporation") announced today the decision regarding the execution of interest-rate swap agreement. The details are as follows.
1. Interest Rate Swap Agreement
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Reason for Executing the Interest Rate Swap Agreement
For a hedge against possible increases in future interest rate for series 46 with floating interest rate. For further details concerning the abovementioned debt financing, please refer to the press release "Notice Concerning Debt Financing and the Execution of Interest Rate Swap Agreements" announced on September 17, 2020. - Details of the Interest Rate Swap Agreements
Series 46 | ||||
Counterparty | Nomura Securities Co.,Ltd. | |||
Notional Amount | ¥ 840 million | |||
Fixed interest | 0.09800% | |||
Interest | Rate for payment | |||
Rate | Floating interest | Base rate (JPY TIBOR for 3 month) | ||
Rate for receipt | ||||
Commencement Date | September 24, 2020 | |||
Termination Date | September 30, 2028 | |||
The first payment is due at the end of December 2020, and on the last day of every three months thereafter, | ||||
Payment Date | with the last payment on the principal repayment day. (If each payment day is a non-business day, then | |||
the payment will be due on the next business day and if the next business day is in the next month, then | ||||
the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 46 is essentially fixed at 0.64800% .
2. Others
In relation to the risks associated with the borrowings, there have been no significant changes to the "Investment Risks" stated in the securities report (Yuka shoken hokokusyo) submitted on April 28, 2020.
- Website URL of the Investment Corporation:https://www.kdr-reit.com/en/
[Provisional Translation Only]
English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
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Kenedix Residential Next Investment Corporation published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 06:34:03 UTC