This translation of the original Japanese notice is provided solely for information purposes. Should there be any discrepancy between this translation and the Japanese original, the latter shall prevail.
January 21, 2020
REIT Issuer: Daiwa Office Investment Corporation (Stock Code No.: 8976)
Representative: Motoi Takahashi, Executive Director
Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.
Representative: Toshio Fukushima, President and Representative Director
Inquiries to: Takashi Chiba, General Manager, Corporate Division (Tel: +81-3-6215-9649)
Notice Concerning Borrowing of Funds
We hereby give notice that Daiwa Office Investment Corporation (the "Investment Corporation") decided today to borrow a total of 5,000 million yen (the "Borrowing").
1. Details for the Borrowing
Scheduled Lender | Loan | Scheduled | Borrowing / | Repayment | |
Amount | Interest Rate | Borrowing | Repayment | ||
(Note1) | Date | ||||
(million yen) | Date | Method | |||
Sumitomo Mitsui Banking | 1 month Japanese Yen | 2021/1/29 | |||
Corporation | 2,000 | TIBOR + 0.25% | |||
(Note2) | |||||
Sumitomo Mitsui Trust Bank, | 1 month Japanese Yen | ||||
1,000 | TIBOR + 0.25% | 2021/1/29 | |||
Limited | Unsecured | ||||
(Note2) | |||||
2020/1/31 | repayment | ||||
1 month Japanese Yen | in lump | ||||
sum | |||||
MUFG Bank, Ltd. | 1,000 | TIBOR + 0.25% | 2021/1/29 | ||
(Note2) | |||||
1 month Japanese Yen | |||||
Mizuho Bank, Ltd. | 1,000 | TIBOR + 0.25% | 2021/1/29 | ||
(Note2) |
(Note1) The contracts have not yet been concluded as of today. Therefore it is stated as "Scheduled".
(Note2)Interest payments shall be made at the end of February, May, August and November (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). Interest rate is calculated based on 1 month Japanese Yen TIBOR which Japanese Bankers Association ("JBA") announces two business days prior to the first day of the loan period.
-
Please refer to the website of JBA TIBOR Administration (http://www.jbatibor.or.jp/english/rate/) for Japanese Yen
TIBOR.
- Reason for the Borrowing
The loan of 5,000 million yen on January 31, 2020 will be provided for the repayment of 5,000 million yen borrowed in total due on January 31, 2020. - Date of Signing Contract January 22, 2020
Note: This press release was prepared as a public announcement regarding borrowing of Funds.
-
Status of Interest-Bearing Liabilities after the Borrowing
Please refer to "Reference" for the status of interest-bearing liabilities after the Borrowing. - Other Matters Required for Investors to Appropriately Understand and Evaluate the Above Information
There arises no change in the content of the investment risks described at "1. Fund Information, 1-1 Status of Fund, 1-1-3 Investment Risk" of the Yukashouken Houkokusyo filed as of August 22, 2019 with respect to the risks involved in repayment of the Borrowing. - End -
[Reference]
- Outstanding Balance of Interest-Bearing Liabilities after the Borrowing
January 31, 2020 | (Unit: million yen) | |||
Before | After | Increase/ | ||
the | ||||
the Borrowing | Decrease | |||
Borrowing | ||||
Short-term loans (loan period: 1 year or less) | 33,100 | 33,100 | 0 | |
(Note) | ||||
Long-term loans (loan period: over 1 year) | 166,250 | 166,250 | 0 | |
Total loans | 199,350 | 199,350 | 0 | |
Investment corporation bonds | 5,100 | 5,100 | 0 | |
Total interest-bearing liabilities | 204,450 | 204,450 | 0 |
(Note) The shot-term loans include long-term loans to be repaid within 1 year.
- Ratio of Floating-Rate and Fixed-RateInterest-Bearing Liabilities after the
Borrowing
January 21, 2020 | (Unit: million yen) | ||
Total amount of interest-bearing | Ratio | ||
liabilities | |||
Floating-rateinterest-bearing liabilities | 36,500 | 17.9% | |
Fixed-rateinterest-bearing liabilities* | 167,950 | 82.1% |
- Fixed-rateinterest-bearing liabilities include debts changed from floating-rate to fixed-rate through swap transactions.
* Website URL of the Investment Corporation: | http://www.daiwa-office.co.jp/en/ |
Note: This press release was prepared as a public announcement regarding borrowing of Funds.
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Daiwa Office Investment Corporation published this content on 21 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2020 07:08:04 UTC