Translation of Japanese Original
February 22, 2022
To All Concerned Parties
REIT Issuer:
Kenedix Residential Next 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
Kenedix Residential Next Investment Corporation (the "Investment Corporation") announced today the decision regarding debt financing (total of ¥ 1.5 billion). Details are as follows.
1. Details of Debt Financing
Amount | Interest Rate | Contract | Drawdown | Principal | Collateral・ | ||||||||||||||||||
Series | Lender | Date | repayment | Repayment | |||||||||||||||||||
(million) | (Note 1) (Note 2) | Date | |||||||||||||||||||||
(Scheduled) | Date (Note 2) | Method | |||||||||||||||||||||
Unsecured, | |||||||||||||||||||||||
unguaranteed | |||||||||||||||||||||||
Base rate(Note 3) | ・ | ||||||||||||||||||||||
62 | Sumitomo Mitsui | ¥1,500 | (JPY TIBOR | February 24, | February 28, | April 30, | Repayment | ||||||||||||||||
Banking Corporation. | for 1 month) | 2022 | 2022 | 2022 | of principal | ||||||||||||||||||
+0.30000% | in full on | ||||||||||||||||||||||
maturity | |||||||||||||||||||||||
date |
(Note 1) The interest payment date is the last day of March 2022 and the principal repayment day.
(Note 2) If the interest payment date or the principal repayment date is a non-business day, the date shall be the next business day and if such next business day falls under the next month, the date shall be the preceding business day.
(Note 3) The Japanese Yen TIBOR of the JBATA is available on the JBATA website (http://www.jbatibor.or.jp/english/).
2. Reason for Debt Financing
The proceeds of this debt financing are to be used for the repayment of the borrowing series 53(note) (Total ¥1.5 billion) with the principal repayment date of February 28, 2022.
(Note)For detail of series 53, please refer to the press release "Notice Concerning Debt Financing" announced on February 22, 2021.
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3. Status of the Interest-bearing Liabilities after the Borrowings (as of February 28, 2022)
(Unit: millions | of yen) | |||||||||||
Classification | Balance Before | Balance After | Difference | |||||||||
the Borrowings | the Borrowings | |||||||||||
Short-term borrowings (Note 1) | 2,500 | 4,000 | +1,500 | |||||||||
Current portion of long-term | 23,450 | 21,950 | -1,500 | |||||||||
borrowings (Note 2) | ||||||||||||
Long-term borrowings (Note 3) | 122,170 | 122,170 | - | |||||||||
Total borrowings | 148,120 | 148,120 | - | |||||||||
Investment corporation bonds | 7,700 | 7,700 | - | |||||||||
Total interest-bearing liabilities | 155,820 | 155,820 | - |
(Note1) The "Short-term borrowings" shall mean the borrowings with a period of less than or equal to one year from the borrowing date to the repayment date. However, if the first anniversary of the date of borrowings fall under a non-business day, the repayment date shall be the next business day and even if, as a result, the borrowing period exceeds one year, the borrowings shall be categorized as short-term borrowings.
(Note2) The "Current portion of long-term borrowings" shall mean the long-term borrowings due within one year.
(Note3) The "Long-term borrowings" shall mean the borrowings with a period of more than one year from the borrowing date to the repayment date.
4. Others
In relation to the risks associated with the borrowings, there have been no significant changes to the "Investment Risks" stated in the securities registration statement (Yuka Shoken Todokedesyo) submitted on February 14, 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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Kenedix Residential Next Investment Corporation published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 06:50:03 UTC.