Translation of Japanese Original
July 27, 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 | Interest Rate | Drawdown | Principal | ||||||||||||
(million) | Date | repayment Date | |||||||||||||||
68-B | MUFG | 900 | 0.22500%(Note 1) | July 29, 2022 | January 31, 2024 | ||||||||||||
Bank, Ltd. | (Fixed rate) | ||||||||||||||||
(Note 1)The interest rate applicable period is from July 29, 2022 to January 31, 2024. (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 July 26, 2022.
2. Interest Rate Swap Agreements
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Reason for Executing the Interest Rate Swap Agreements
For a hedge against possible increases in future interest rate for series 68-D 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 July 26, 2022. - Details of the Interest Rate Swap Agreements
Series 68-D | ||||
Counterparty | Nomura Securities Co.,Ltd. | |||
Notional Amount | ¥ 1,100 million | |||
Fixed interest | 0.25000% | |||
Interest | Rate for payment | |||
Rate | Floating interest | Base rate (JPY TIBOR for 3 month) | ||
Rate for receipt | ||||
Commencement Date | July 29, 2022 | |||
Termination Date | July 31, 2027 | |||
Payment Date | The first payment is due at the end of October 2022, and on the last day of every three | |||
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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 68-D is essentially fixed at 0.55000%.
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.
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Disclaimer
Kenedix Residential Next Investment Corporation published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 06:51:11 UTC.