Japan Real Estate Investment : Announcement of Debt Financing
April 19, 2021 at 08:20 pm
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NEWS RELEASE
April 19, 2021
For Immediate Release
Investment Corporation
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 5 billion executed on April 24, 2013.
2. Overview of the borrowing
(1)
Borrowing date
April 26, 2021
(2)
Lender, Amount of loan, Principal repayment date
Lender
Amount of loan
Principal repayment date
MUFG Bank, Ltd.
JPY 5,000 million
April 25, 2031
(3)
Interest rate:
0.35625% (Fixed)
(4)
Method of borrowing:
Loan agreement dated April 19, 2021
Unsecured/unguaranteed loan
(5)
Interest payment date:
The principal repayment date and the 26th of every April and
October in the period until the principal repayment date (Note)
(6)
Method of principal repayment:
Lump‐sum repayment on the principal repayment date
(Note) 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 following month.
1
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
20,000
20,000
±0
(Variable interest rate)
Long‐term loans payable
338,500
338,500
±0
(Fixed interest rate)
Total loans
376,500
376,500
±0
Investment corporation bonds
42,993
42,993
±0
Total
42,993
42,993
±0
investment corporation bonds
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 April 19, 2021.
No assurance or warranties are given for the completeness or accuracy of this English translation.
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Disclaimer
JREI - Japan Real Estate Investment Corporation published this content on 19 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 00:19:08 UTC.
Japan Real Estate Investment Corp is a Japan-based real estate investment trust (REIT) company. The Company aims to achieve stable earnings from mid- to long-term perspectives through investment in office buildings and other assets mainly located in the Tokyo metropolitan area and other major cities. The Company also invests in real estate-related securities. Its main portfolio includes Kitanomaru Square, Shiodome Building, Akasaka Park Building, Mitsubishi UFJ Trust and Banking Building, MM Park Building, Shibuya Cross Tower, Tokyo Opera City Building, Harumi Front, Harumi Center Building and Shin-Fujita Building, among others. The asset manager of Japan Real Estate Investment is Japan Real Estate Asset Management Co Ltd.