January 25, 2022
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 Loans
Comforia Residential REIT, Inc ("CRR") announces that it decided today to proceed with the borrowing of funds and repayment of loans. 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
-
Mizuho Trust &Banking Co., Ltd., The Norinchukin Bank,
The Bank of Fukuoka, Ltd., The 77 Bank, Ltd., Daishi Hokuetsu Bank, Ltd. - 5,500 million yen
- To be determined (Note)
- January 31, 2022
- Borrowing based on a loan agreement effective January 27, 2022, with the lender stated above.
- Interest payments will be made on February 28, 2022 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
- January 31, 2028
(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:8 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
- Development Bank of Japan Inc., Mizuho Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation
- 3,300 million yen
- To be determined (Note)
- January 31, 2022
- Borrowing based on a loan agreement effective January 27, 2022, with the lender stated above.
- Interest payments will be made on February 28, 2022 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
- January 31, 2030
(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:5 year, fixed rate)
① | Lender | : Mizuho Trust &Banking Co., Ltd., The Norinchukin Bank, |
The Bank of Fukuoka, Ltd., The 77 Bank, Ltd., Daishi Hokuetsu Bank, Ltd. | ||
② | Loan amount | : 5,500 million yen |
③ | Interest rate | : 0.46691% |
④ | Drawdown date | : January 31, 2017 |
⑤ | Principal | : January 31, 2022 |
repayment date |
- Current portion of long-term loans (Term:7 year, fixed rate)
① | Lender | : MUFG Bank, Ltd., Development Bank of Japan Inc., Mizuho Bank, Ltd., |
Sumitomo Mitsui Trust Bank, Limited, Sumitomo Mitsui Banking Corporation | ||
② | Loan amount | : 3,300 million yen |
③ | Interest rate | : 0.69250% (Note) |
④ | Drawdown date | : February 3, 2015 |
⑤ | Principal | : January 31, 2022 |
repayment date |
(Note) The interest rate denotes the fixed rate after an interest-rate swap agreement because the interest rate swap agreement was executed in order to hedge the risk of fluctuation.
2.Reason for Borrowing and Repayment
CRR will appropriate the funds to repay loans (refer to 1.(2) shown above for details).
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3.Amount, Use, and Scheduled Time of Disbursement of Funds to Be Raised
- Amount of funds to be raised A total of 8,800 million yen
- Specific use of funds to be raised
Funds will be used to repay loans (refer to 1.(2) shown above for details).
- Scheduled time of disbursement January 31, 2022
4.Status of Interest-Bearing Debt after the Borrowing
(million yen) | |||
Before the borrowing | After the borrowing | Change | |
(As of January 25, 2022) | (As of January 31, 2022) | ||
Short-Term Loans (Note) | - | - | - |
Current portion of long- | |||
term loans (to be repaid | 19,750 | 14,360 | ▲5,390 |
within one year or less) | |||
Long-Term Loans (Note) | 105,780 | 111,170 | 5,390 |
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 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2022 06:26:36 UTC.