Activia Properties : Notice Concerning Commitment Line Agreement and Credit Line (Non-Commitment Basis) Agreement
July 19, 2023 at 07:45 am
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June 9, 2023
FOR IMMEDIATE RELEASE
Activia Properties Inc.
21-1, Dogenzaka 1-chome,Shibuya-ku, Tokyo
Nobuhide Kashiwagi
Executive Director
(Code: 3279)
Asset Management Company
TLC REIT Management Inc.
Akira Kubo
President & CEO
Inquiries
Manabu Kamikawara
General Manager of Strategy Department
Activia Management Division
(Tel: +81-3-6455-3377)
Notice Concerning Commitment Line Agreement
and Credit Line (Non-Commitment Basis) Agreement
Activia Properties Inc. ("API") announces today that it executed the commitment line agreement and credit line (non-commitment basis) agreement. Details are as follows:
I. Commitment line agreement
1. Reasons for establishment
API newly entered into the commitment line agreement to secure flexible and stable financing for the future potential acquisition of properties.
The commitment line agreement was established since the existing ¥12 billion commitment line agreement with Sumitomo Mitsui Trust Bank, Limited, Mizuho Bank, Ltd., and MUFG Bank, Ltd. will be terminated on June 12, 2023. Besides this commitment line agreement, API has already established a ¥9 billion commitment line agreement with Sumitomo Mitsui Trust Bank, Limited, Mizuho Bank, Ltd., and MUFG Bank, Ltd. As a whole, the total limit for the commitment line became ¥21 billion.
2. Details of commitment line agreement
(1)
Counterparties
Sumitomo Mitsui Trust Bank, Limited
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
(2)
Limit for the commitment line
¥12 billion (¥4 billion for each bank)
(3)
Date of the agreement
June 9, 2023
(4) Term of the agreement
June 13, 2023 to June 12, 2024
(5)
Security and guarantee
Unsecured and unguaranteed
Credit line (non-commitment basis) agreement
1. Reasons for establishment
API newly entered into the credit line (non-commitment basis) agreement to secure flexible and stable financing for the future potential acquisition of properties.
The credit line (non-commitment basis) agreement is established since the existing ¥12 billion credit line (non-commitment basis) agreement with Sumitomo Mitsui Trust Bank, Limited, Mizuho Bank, Ltd., and MUFG Bank, Ltd. will be terminated on June 12, 2023.
2. Details of credit line (non-commitment basis) agreement
(1)
Counterparties
Sumitomo Mitsui Trust Bank, Limited
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
(2)
Limit for the credit line
12 billion yen (4 billion yen for each bank)
(3)
Date of the agreement
June 9, 2023
(4) Term of the agreement
June 13, 2023 to June 12, 2024
(5)
Security and guarantee
Unsecured and unguaranteed
III. Other
Regarding the risks related to the establishment of the commitment line agreement and the credit line (non-commitment basis) agreement, there are no significant changes in the "Investment Risk" section of the securities report submitted on February 22, 2023.
*Website of API: https://www.activia-reit.co.jp/en/
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Activia Properties Inc. published this content on 19 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2023 06:44:05 UTC.
Activia Properties Inc is a Japan-based real estate investment trust (REIT) company. The Fund mainly invests in urban-type commercial facilities and offices located in Tokyo. The Fund aims to achieve mid- to long-term stable earnings and sustainable capital appreciation. Its properties include Tokyu Plaza Omotesando Harajuku, Tokyu Plaza Akasaka, Q Plaza Ebisu, Kyoto Karasuma Parking Building, among others. The asset manager of the Fund is TLC REIT Management Inc.
ACTIVIA PROPERTIES INC. 
