KENEDIX RESIDENTIAL NEXT INVESTMENT CORPORATION Translation of Japanese Original
April 26, 2022
To All Concerned Parties
REIT Issuer:
Kenedix Residential Investment Corporation Representative: Tetsu Kawashima, Executive Director
(Securities Code Number: 3278)
Asset Management Company
Kenedix Real Estate Fund Management, Inc.
Representative: Masahiko Tajima, President & CEO
Contact:Shin Yamamoto, Head of Strategic Planning, Residential REIT Department
TEL: +81-3-5157-6011
Notice Concerning Debt Financing Interest Rate Determination and
Execution of Interest Rate Swap Agreements
Kenedix Residential Next Investment Corporation (the "Investment Corporation") today announced details regarding the interest rate and applicable period for the following debt financing. In addition, the Investment
Corporation announced the execution of interest-rate swap agreement. Details are as follows.
1.
Borrowing Interest Rate
Series | Lender | Amount (million) | Interest Rate | Drawdown Date | Principal repayment Date |
65-A | MUFG Bank, Ltd. | ¥1,000 | 0.22500 %（Note 1） (Fixed rate) | April 28, 2022 | October 31, 2023 |
（Note 1）The interest rate applicable period is from April 28, 2022 to October 31, 2023. （Note 2）The abovementioned debt financing is unsecured and unguaranteed.
For further details concerning the abovementioned debt financing, please refer to the press release "Notice Concerning Debt Financing and Execution of Interest Rate Swap Agreement" announced on April 22, 2022.
2. Interest Rate Swap Agreements
(1) Reason for Executing the Interest Rate Swap Agreements
For a hedge against possible increases in future interest rate for series 64-A, series 64-B, series 64-C, series 65-B, series 65-D and series 65-E with floating interest rate. For further details concerning the abovementioned debt financing, please refer to the press release "Notice Concerning Debt Financing and Execution of Interest Rate Swap Agreement" announced on April 22, 2022.
(2) Details of the Interest Rate Swap Agreements
Series 64-A | ||
Counterparty | Nomura Securities Co., Ltd. | |
Notional Amount | ¥ 4,000 million | |
Interest Rate | Fixed interest Rate for payment | 0.19700 % |
Floating interest Rate for receipt | Base rate (JPY TIBOR for 3 month) | |
Commencement Date | April 28, 2022 | |
Termination Date | April 30, 2025 |
Payment Date | The first payment is due at the end of July 2022, and on the last day of every three months thereafter, with the last payment on the principal repayment day. (If each payment day is a non-business day, then the payment will be due on the next business day and if the next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 64-A is essentially fixed at 0.44700 %.
Series 64-B | ||
Counterparty | Nomura Securities Co., Ltd. | |
Notional Amount | ¥ 1,500 million | |
Interest Rate | Fixed interest Rate for payment | 0.21600 % |
Floating interest Rate for receipt | Base rate (JPY TIBOR for 3 month) | |
Commencement Date | April 28, 2022 | |
Termination Date | October 31, 2025 | |
Payment Date | The first payment is due at the end of July 2022, and on the last day of every three months thereafter, with the last payment on the principal repayment day. (If each payment day is a non-business day, then the payment will be due on the next business day and if the next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 64-B is essentially fixed at 0.46600 %.
Series 64-C | ||
Counterparty | Nomura Securities Co., Ltd. | |
Notional Amount | ¥ 500 million | |
Interest Rate | Fixed interest Rate for payment | 0.25850 % |
Floating interest Rate for receipt | Base rate (JPY TIBOR for 3 month) | |
Commencement Date | April 28, 2022 | |
Termination Date | October 31, 2026 | |
Payment Date | The first payment is due at the end of July 2022, and on the last day of every three months thereafter, with the last payment on the principal repayment day. (If each payment day is a non-business day, then the payment will be due on the next business day and if the next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 64-C is essentially fixed at 0.50850 %.
Series 65-B | ||
Counterparty | Nomura Securities Co., Ltd. | |
Notional Amount | ¥ 1,000 million | |
Interest Rate | Fixed interest Rate for payment | 0.17850 % |
Floating interest Rate for receipt | Base rate (JPY TIBOR for 3 month) | |
Commencement Date | April 28, 2022 | |
Termination Date | October 31, 2024 | |
Payment Date | The first payment is due at the end of July 2022, and on the last day of every three months thereafter, with the last payment on the principal repayment day. (If each payment day is a non-business day, then the payment will be due on the next business day and if the next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 65-B is essentially fixed at 0.35350 %.
Series 65-D | ||
Counterparty | Nomura Securities Co., Ltd. | |
Notional Amount | ¥ 1,500 million | |
Interest Rate | Fixed interest Rate for payment | 0.30700 % |
Floating interest Rate for receipt | Base rate (JPY TIBOR for 3 month) | |
Commencement Date | April 28, 2022 | |
Termination Date | October 31, 2027 | |
Payment Date | The first payment is due at the end of July 2022, and on the last day of every three months thereafter, with the last payment on the principal repayment day. (If each payment day is a non-business day, then the payment will be due on the next business day and if the next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 65-D is essentially fixed at 0.63200 %.
Series 65-E | ||
Counterparty | Daiwa Securities Co. Ltd. | |
Notional Amount | ¥ 1,000 million | |
Interest Rate | Fixed interest Rate for payment | 0.33120 % |
Floating interest Rate for receipt | Base rate (JPY TIBOR for 3 month) | |
Commencement Date | April 28, 2022 | |
Termination Date | April 30, 2028 | |
Payment Date | The first payment is due at the end of July 2022, and on the last day of every three months thereafter, with the last payment on the principal repayment day. (If each payment day is a non-business day, then the payment will be due on the next business day and if the next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 65-E is essentially fixed at 0.68120 %.
3.
Others
In relation to the risks associated with the borrowings, there have been no significant changes to the "Investment Risks" stated in the securities report (Yuka Shoken Hokokusyo) submitted on April 26, 2022.
* Website URL of the Investment Corporation:https://www.kdr-reit.com/en/
[Provisional Translation Only]
English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Kenedix Residential Next Investment Corporation published this content on 26 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2022 07:09:10 UTC.
