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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Kenedix Residential Next Investment Corporation    3278   JP3047480003

KENEDIX RESIDENTIAL NEXT INVESTMENT CORPORATION

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Kenedix Residential Next Investment : Notice Concerning Execution of Interest Rate Swap Agreements

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07/29/2020 | 03:35am EDT

Translation of Japanese Original

July 29, 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 Agreements

Kenedix Residential Next Investment Corporation (the "Investment Corporation") announced today the decision regarding the execution of interest-rate swap agreements. The details are as follows.

1. Interest Rate Swap Agreements

  1. Reason for Executing the Interest Rate Swap Agreements
    For a hedge against possible increases in future interest rate for series 43-B 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 July 22, 2020.
  2. Details of the Interest Rate Swap Agreements

Series 43-B

Counterparty

Nomura Securities Co.,Ltd.

Notional Amount

¥ 1,000 million

Fixed interest

0.13600%

Interest

Rate for payment

Rate

Floating interest

Base rate (JPY TIBOR for 3 month)

Rate for receipt

Commencement Date

July 31, 2020

Termination Date

July 31, 2028

The first payment is due at the end of October 2020, and on the last day of every three months

thereafter, with the last payment on the principal repayment day.

Payment Date

(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 43-B is essentially fixed at 0.68600%.

  • 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.

1

Disclaimer

Kenedix Residential Next Investment Corporation published this content on 29 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2020 06:35:09 UTC


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Financials
Sales 2020 16 203 M 156 M 156 M
Net income 2020 7 355 M 70,6 M 70,6 M
Net Debt 2020 117 B 1 120 M 1 120 M
P/E ratio 2020 26,5x
Yield 2020 3,78%
Capitalization 165 B 1 581 M 1 584 M
EV / Sales 2019 17,1x
EV / Sales 2020 19,3x
Nbr of Employees -
Free-Float 98,0%
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Last Close Price 173 500,00 
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NameTitle
Osamu Chiba Supervisory Officer
Satoshi Ogawa Supervisory Officer
Keisuke Sato Executive Officer
Katsue Okuda Executive Officer
Soichiro Iwao Supervisory Officer
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