Japan Real Estate Investment : Announcement of Debt Financing
June 09, 2022 at 03:02 am EDT
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NEWS RELEASE
June 9, 2022
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.
Shojiro Kojima, 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 2.5 billion executed on June 15, 2012.
2. Overview of the borrowing
(1)
Borrowing date:
June 15, 2022
(2)
Lender, Amount of loan, Principal repayment date
Lender
Amount of loan
Principal repayment date
Shinsei Bank, Ltd.
JPY 2,500 million
June 15, 2023
(3)
Bankers
Interest rate:
Base rate (1‐month JPY
TIBOR published by Japanese
Association (hereinafter "JBA")) + 0.040% (Note1)
(4)
Method of borrowing:
Loan based on overdraft agreement
Unsecured/unguaranteed loan
(5)
Interest payment date:
The principal repayment date and the 15th of every month in the
period until the principal repayment date (Note2)
(6)
Method of principal repayment:
Lump‐sum repayment on the principal repayment date
(Note1)・ The base rate to calculate the interest to be paid on interest payment dates is JBA 1‐month JPY TIBOR as of the second preceding business day of the borrowing date for the first interest payment date and as of the second preceding business day of the most recent interest payment date for the subsequent interest payment dates. (JBA 1‐month JPY TIBOR as of June 9, 2022 is 0.08182%.)
For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration's website (https://www.jbatibor.or.jp/english/rate/).
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(Note2) 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.
Overview of Existing Loan Subject to Repayment
(1)
Borrowing date:
June 15, 2012
(2) Lender, Amount of loan, Principal repayment date
Lender
Amount of loan
Principal repayment date
Shinsei Bank, Ltd.
JPY 2,500 million
June 15, 2022
(3)
Disclosed date:
June 8, 2012 and June 13,
2012 (Interest rate)
3. Balance of interest‐bearing debt after the debt financing
(Units: millions of JPY)
Before
After
Increase/Decrease
Short‐term loans payable
19,200
21,700
+2,500
Long‐term loans payable
21,000
21,000
±0
(Variable interest rate)
Long‐term loans payable
341,700
339,200
‐2,500
(Fixed interest rate)
Total loans
381,900
381,900
±0
Investment corporation bonds
42,993
42,993
±0
Total
42,993
42,993
±0
investment corporation bonds
Total interest‐bearing debt
424,893
424,893
±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 24, 2021.
This is the English translation of the announcement in Japanese dated June 9, 2022.
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 09 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 07:01:03 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.