October 25, 2021
For Immediate Release
Real Estate Investment Trust Securities Issuer:
Comforia Residential REIT, Inc
21-1 Dogenzaka 1-chome,Shibuya-ku,Tokyo
Takehiro Izawa
Executive Director
(Code: 3282)
Asset Management Company:
TLC REIT Management Inc.
Masaoki Kanematsu
President & CEO
Inquiries:
Daisuke Kawauchi
General Manager of Strategy Department
Comforia Management Division
(TEL: +81-3-6455-3388)
Notice Concerning Borrowing of Funds and Repayment of Loan
Comforia Residential REIT, Inc ("CRR") announces that it decided today to proceed with the borrowing of funds and repayment of loan. Details are as follows:
1. Description of New Borrowing and Repayment
(1) Description of New Borrowing
- Long-termLoans(Term:6 year, fixed rate)
- Lender
-
Loan amount
③ Interest rate
- Scheduled drawdown date
- Borrowing method
- Interest payment dates
- Principal repayment method
- Principal repayment date
- Security and guarantee
- The Bank of Fukuoka, Ltd., The 77 Bank, Ltd., Daishi Hokuetsu Bank, Ltd., The Nishi-Nippon City Bank, Ltd.
- 2,000 million yen
- To be determined (Note)
- October 29, 2021
- Borrowing based on a loan agreement effective October 27, 2021, with the lender stated above.
- Interest payments will be made on November 30, 2021 first, the last day of each month thereafter, and the principal repayment date (or the business day immediately preceding the concerned date if any concerned date is not a business day).
- Lump-sumrepayment on principal repayment date
- October 29, 2027
(If this date is not a business day, it shall be the following business day. If such day falls in the following month,it shall be the immediately preceding business day.) - Unsecured and unguaranteed
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B Long-term Loans(Term:7.5 year, fixed rate)
- Lender
-
Loan amount
③ Interest rate
- Scheduled drawdown date
- Borrowing method
- Interest payment dates
- Principal repayment method
- Principal repayment date
- Security and guarantee
- The Norinchukin Bank, Risona Bank, Limited.
- 2,000 million yen
- To be determined (Note)
- October 29, 2021
- Borrowing based on a loan agreement effective October 27, 2021, with the lender stated above.
- Interest payments will be made on November 30, 2021 first, the last day of each month thereafter, and the principal repayment date (or the business day immediately preceding the concerned date if any concerned date is not a business day).
- Lump-sumrepayment on principal repayment date
- April 30, 2029
(If this date is not a business day, it shall be the following business day. If such day falls in the following month, it shall be the immediately preceding business day.) - Unsecured and unguaranteed
(Note) Funds will be borrowed at a fixed interest rate, which will be announced once it has been determined.
(2) Description of Repayment of Loan
Current portion of long-term loans (Term:1 year 1 month, variable interest rate)
① | Lender | : Mizuho Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, | |
MUFG Bank, Ltd. | |||
② | Loan amount | : 4,000 million yen | |
③ | Interest rate | : | Basic interest rate(JBA 1 month yen TIBOR)+0.20% |
④ | Drawdown date | : September 29, 2020 | |
⑤ | Principal | : October 29, 2021 | |
repayment date |
2.Reason for Borrowing and Repayment
CRR will appropriate the funds to repay loan (refer to 1.(2) shown above for details).
3.Amount, Use, and Scheduled Time of Disbursement of Funds to Be Raised
- Amount of funds to be raised A total of 4,000 million yen
- Specific use of funds to be raised
Funds will be used to repay loan (refer to 1.(2) shown above for details).
- Scheduled time of disbursement October 29, 2021
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4.Status of Interest-Bearing Debt after the Borrowing
(million yen) | |||
Before the borrowing | After the borrowing | Change | |
(As of October 25, 2021) | (As of October 29, 2021) | ||
Short-Term Loans (Note) | - | - | - |
Current portion of long- | |||
term loans (to be repaid | 23,750 | 19,750 | ▲4,000 |
within one year or less) | |||
Long-Term Loans (Note) | 101,780 | 105,780 | 4,000 |
Total of Loans | 125,530 | 125,530 | - |
Current portion of investment | |||
corporation bonds (to be redeemed | 1,000 | 1,000 | - |
within one year or less) | |||
Investment Corporation Bonds | 15,100 | 15,100 | - |
Total of Loans and | 141,630 | 141,630 | - |
Investment Corporation Bonds | |||
(Note) Short-term loans are loans that will come due within one year, while long-term loans are loans that will come due after one year.
*Website of CRR: https://www.comforia-reit.co.jp/en/
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Comforia Residential REIT Inc. published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 06:03:02 UTC.