FUKUOKA REIT CORPORATION Provisional translation only
October 17, 2023
Fukuoka REIT Corporation
1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City
Zenji Koike
Executive Director
(Securities Code: 8968)
Asset Management Company:
Fukuoka Realty Co., Ltd.
1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City
Zenji Koike
President and CEO
Inquiries:
Hiroyuki Ayabe
Executive Officer and General Manager
Finance Department
TEL: +81-(0)92-272-3900
Notice Concerning Borrowing of Funds
Fukuoka REIT Corporation (FRC) announces that it will conduct the borrowing of funds as described below. The borrowing is a green loan (the "Green Loan") to be taken out based on the green finance framework established by FRC. For more information of the green loan and the green finance framework, please refer to the press release "Notice Concerning Borrowing of Funds" dated June 21, 2022.
1. Borrowing of funds
- Reason for borrowings Refinancing on existing borrowing
- Outline of borrowings Borrowing 1 (long-term debt (Note 1))
1. | Lender: | The Bank of Fukuoka Ltd. |
2. Amount: | 2.5 billion yen | |
3. | Interest rate: | Base interest rate (JBA 3-month Japanese Yen TIBOR) + 0.25% (Note 2) |
4. | Borrowing date: | October 31, 2023 |
5. | Borrowing method: | Loan agreement concluded on October 27, 2023 |
6. | Repayment date: | October 31, 2031 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 2 (long-term debt (Note 1)) | ||
1. | Lender: | MUFG Bank, Ltd. |
2. Amount: | 1.0 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Borrowing date: | October 31, 2023 |
5. | Borrowing method: | Loan agreement concluded on October 27, 2023 |
6. | Repayment date: | October 31, 2030 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
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Borrowing 3 (long-term debt (Note 1))
1. | Lender: | Sumitomo Mitsui Banking Corporation |
2. Amount: | 1.0 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Borrowing date: | October 31, 2023 |
5. | Borrowing method: | Loan agreement concluded on October 27, 2023 |
6. | Repayment date: | October 31, 2030 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
Borrowing 4 (long-term debt (Note 1)) | ||
1. | Lender: | Mizuho Bank, Ltd. |
2. Amount: | 1.0 billion yen | |
3. | Interest rate: | To be announced (Note 3) Fixed interest rate |
4. | Drawdown date: | October 31, 2023 |
5. | Borrowing method: | Loan agreement concluded on October 27, 2023 |
6. | Repayment date: | October 31, 2031 |
7. | Repayment method: | Lump-sum upon maturity |
8. | Description: | No collateral, No guarantee |
(Note 1) Borrowings by green loan as refinancing of borrowings.
(Note 2) The applied base interest rate is the JBA Japanese Yen TIBOR two business days before the borrowing date. Moreover, JBA Japanese Yen TIBOR can be checked on the website of JBA TIBOR Administration. (https://www.jbatibor.or.jp/english/rate/)
(Note 3) Interest rate will be announced once determined.
- Outline of refinancing Refinancing 1 (short-term debt)
1. | Lender: | The Nishi-Nippon City Bank, Ltd., Resona Bank, Limited, The Oita |
Bank, Ltd., The Bank of Nagasaki, Ltd., The Bank of Saga, Ltd | ||
2. Amount: | 2.0 billion yen | |
3. | Interest rate: | Base interest rate (JBA 1-month Japanese Yen TIBOR) + 0.35% |
4. Borrowing date: | September 29, 2023 | |
5. | Borrowing method: | Submitted loan application form based on commitment line contract as |
of February 28, 2023. | ||
6. | Repayment date: | October 31, 2023 |
7. Repayment method: | Lump-sum upon maturity | |
8. | Description: | No collateral, No guarantee |
Refinancing 2 (short-term debt) | ||
1. | Lender: | The Bank of Fukuoka Ltd., Resona Bank, Limited |
2. Amount: | 3.5 billion yen | |
3. | Interest rate: | Base interest rate (JBA 1-month Japanese Yen TIBOR) + 0.35% |
4. Borrowing date: | September 29, 2023 | |
5. | Borrowing method: | Submitted loan application form based on commitment line contract as |
of July 31, 2023. | ||
6. | Repayment date: | October 31, 2023 |
7. Repayment method: | Lump-sum upon maturity | |
8. | Description: | No collateral, No guarantee |
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2. Status of Debt after Borrowing
(mm yen) | ||||
Before borrowing | After borrowing | Change | ||
Short-term debt (Note 4) | 5,500 | 0 | (5,500) | |
Long-term debt | 88,350 | 93,850 | 5,500 | |
Of which, long-term debt payable due | ［5,200］ | ［5,200］ | ［0］ | |
within one year | ||||
Total | 93,850 | 93,850 | 0 | |
Investment corporation bonds | 5,000 | 5,000 | 0 | |
Total Interest-bearing debt | 98,850 | 98,850 | 0 | |
(Note 4) The borrowings are used from committed credit line [13,000 mm yen]
3. Others
Concerning risks related to repayments of this borrowing, etc., there are no material changes from the "Investment risks" disclosed in the latest Securities Report for the 37h Fiscal Period (submitted on May 30, 2023).
*FRC's website ishttps://www.fukuoka-reit.jp/en/index.html
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Fukuoka REIT Corporation published this content on 17 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 October 2023 07:06:30 UTC.
