JAPAN REAL ESTATE INVESTMENT CORPORATION NEWS RELEASE
August 8, 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 Loan Pre‐payment and Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to repay the existing loan before the due date and to procure funds as follows:
1. Loan pre‐payment | |
(I) Pre‐payment date: | August 10, 2022 |
- Overview of loan to be repaid before the due date:
(1) | Amount of pre‐payment | JPY 3,000 million |
(2) | Amount of loan | JPY 4,500 million |
(3) | Amount of loan after the | JPY 1,500 million |
pre‐payment | ||
(4) | Lender | MUFG Bank, Ltd. |
(5) | Interest rate | 0.12545% (from July 15, 2022 through August 9, 2022) |
(6) | Borrowing date | July 15, 2022 |
(7) | Method of borrowing | Loan based on overdraft agreement |
Unsecured/unguaranteed loan | ||
(8) | Interest payment date | The principal repayment date and the 10th of every month |
in the period until the principal repayment date | ||
(9) | Method of principal repayment | Lump‐sum repayment on the principal repayment date |
(10) | Principal repayment date | July 10, 2023 |
*There will be no early repayment fee due to this loan pre‐payment.
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2. Debt Financing
-
Reason for the borrowings
To apply the following loans to the pre‐payment of the above mentioned loan of JPY 3 billion
(II) Overview of the borrowings
(1) | Amount of loan | JPY 2,000 million | JPY 1,000 million | |
(2) | Lender | Daishi Hokuetsu Bank, Ltd. | The Chugoku Bank, Limited. | |
(3) | Interest rate | 0.39875% | ||
(4) | Borrowing date | August 10, 2022 | ||
(5) | Method of borrowing | Loan agreement dated August 8, 2022 | ||
Unsecured/unguaranteed loan | ||||
(6) | Interest payment date | The principal repayment date and the 10th day of every | ||
February and August in the period until the principal | ||||
repayment date (Note) | ||||
(7) | Method of principal repayment | Lump‐sum repayment on the principal repayment date | ||
(8) | Principal repayment date | August 10, 2032 |
(Note) 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.
3. Balance of interest‐bearing debt after the debt financing
(Units: millions of yen) | |||
Before | After | Increase/Decrease | |
Short‐term loans payable | 26,200 | 23,200 | ‐3,000 |
Long‐term loans payable | 21,000 | 21,000 | ±0 |
(Variable interest rate) | |||
Long‐term loans payable | 333,700 | 336,700 | +3,000 |
(Fixed interest rate) | |||
Total loans | 380,900 | 380,900 | ±0 |
Investment corporation bonds | 42,993 | 42,993 | ±0 |
Total | 42,993 | 42,993 | ±0 |
investment corporation bonds | |||
Total interest‐bearing debt | 423,893 | 423,893 | ±0 |
(Note)For the above balances, the borrowing described in the press release "Announcement of Debt Financing" dated August 1, 2022 has been taken into account.
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 June 24, 2022.
This is the English translation of the announcement in Japanese dated August 8, 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 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 02:25:01 UTC.
