TOKYU REIT, INC. July 25, 2022
Real Estate Investment Trust Unit Issuer:
TOKYU REIT, Inc.
1-12-1, Dogenzaka,
Shibuya-ku, Tokyo, 150-0043, Japan
Kazuyoshi Kashiwazaki
Executive Director
(Securities Code: 8957)
Investment Management Company:
Tokyu Real Estate Investment Management Inc.
Representative:
Kazuyoshi Kashiwazaki
Representative Director & President, Chief Executive Officer
Inquiries:
Yuji Shimizu
General Manager, Finance and IR
TEL: +81-3-5428-5828
Notice Concerning Long-Term Debt Financing
and Repayment of Long-Term Borrowing
TOKYU REIT, Inc. ("TOKYU REIT") today announced its decision to undertake debt financing and repayment. Brief details are as follows.
1. Debt Financing
（1）Rationale
TOKYU REIT will undertake debt financing for procurement of funds to repay long-term debt maturing on July 27, 2022. In an effort to ensure stability in connection with the procurement of funds, TOKYU REIT has adopted strategies to convert its debt financing to fixed interest rate borrowings and to diversify repayment dates.
（2）Details of Debt Financing
Classification | Long-Term Debt | |
Lender | Sumitomo Mitsui Trust Bank, Limited. | Shinkin Central Bank |
Debt Financing Amount | ¥2,000 million | ¥2,000 million |
Interest Rate | 0.62329% | 0.77489% |
(Fixed interest rate) | (Fixed interest rate) | |
Repayment Method | Lump-sum repayment on maturity | |
Drawdown Date | July 27, 2022 | |
Maturity Date (Note) | January 27, 2027 | January 27, 2030 |
Period | 4.5 years | 7.5 years |
Collateral | Unsecured, unguaranteed | |
Financing Fee | None |
(Note) In case the repayment date is not a business day, such date will be the following business day or the preceding business day (if the immediately following business day falls into the following month).
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2. Repayment of Debt
Debt borrowed on July 27, 2015.
Classification | Long-Term Debt | |
Lender | Sumitomo Mitsui Trust Bank, Limited. | Shinkin Central Bank |
Debt Financing Amount | ¥2,000 million | ¥2,000 million |
Interest Rate | 0.99000% (Fixed interest rate) | |
Repayment Method | Lump-sum repayment on maturity | |
Drawdown Date | July 27, 2015 | |
Repayment Date | July 27, 2022 | |
Maturity Date (Note) | July 27, 2022 | |
Repayment Source | Debt finance mentioned above 1. Debt Financing | |
Period | 7 years | |
Collateral | Unsecured, unguaranteed | |
Financing Fee | None | |
(Note) In case the repayment date is not a business day, such date will be the following business day or the preceding business day (if the immediately following business day falls into the following month).
3. Total Debt After Additional Debt Financing and Repayment
Debt Balance Prior to | Debt Balance after | ||||
Additional Debt | Additional Debt | Change | |||
Financing and | Financing and | ||||
(¥ millions) | |||||
Repayment | Repayment | ||||
(¥ millions) | (¥ millions) | ||||
Short-Term Debt Financing | 0 | 0 | - | ||
Long-Term Debt Financing | 85,000 | 85,000 | - | ||
Total Debt Financing | 85,000 | 85,000 | - | ||
Investment Corporation | 8,000 | 8,000 | - | ||
Bonds | |||||
Interest-Bearing Debt | 93,000 | 93,000 | - | ||
4. Others | |||||
Regarding the loan repayment risk, there is no change to the "Investment risks" of | the latest securities | ||||
report submitted on April 22, 2022. |
[Reference]
Timely Disclosure Relating to the Debt Financings to be Repaid (Except concerning decision of Interest Rate)
July 23, 2015 Notice Concerning Debt Financing and Repayment
This notice may contain forward-looking statements, such as current plans, strategies, and future performance. These forward-looking statements are based on judgments obtained from currently available information. Please be advised that, for a variety of reasons, actual results may differ materially from those discussed in the forward-looking statements. Events that might affect actual results include, but are not limited to, fluctuations of the real estate market in Japan, general conditions of the Japanese economy, competitive pressures and relevant regulations.
This notice is a translation of the original document in Japanese and is prepared solely for the convenience of non-Japanese speakers. There is no assurance as to the accuracy of the English translation. The original Japanese notice shall prevail in the event of any discrepancies between the translation and the Japanese original.
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Disclaimer
Tokyu REIT Inc. published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 06:13:06 UTC.
