JAPAN PRIME REALTY INVESTMENT CORPORATION July 3, 2024
For Translation Purpose Only
For Immediate Release
Japan Prime Realty Investment Corporation
Yoshihiro Jozaki, Executive Officer
(Securities Code: 8955)
Asset Management Company:
Tokyo Tatemono Realty Investment Management, Inc.
Yoshihiro Jozaki, President and CEO
Inquiries: Yoshinaga Nomura, Director and General
Manager, Finance and Administration Division and CFO
(TEL: +81-3-3516-1591)
Notice Concerning Borrowing (Green Loan)
Japan Prime Realty Investment Corporation (JPR) today announced its decision to take out green loans to further promote sustainability initiatives and strengthen its financial base through the diversification of financing.
Details
1. Details of Borrowing
Lender | Amount | Interest Rate | Drawdown | Type of Borrowing and | Repayment |
Date | Repayment Method | Date | |||
0.29364% | |||||
Resona Bank, Limited. | ¥4,000 | (Base | July 5, | Unsecured, non-guaranteed, | July 4, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2025 | ||
+0.1%) | in full on maturity | ||||
(Note1) | |||||
0.29364% | |||||
Mizuho Bank, Ltd. | ¥4,000 | (Base | July 5, | Unsecured, non-guaranteed, | October 4, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2024 | ||
+0.1%) | in full on maturity | ||||
(Note1) | |||||
0.29364% | |||||
Mizuho Bank, Ltd. | ¥2,000 | (Base | July 5, | Unsecured, non-guaranteed, | December 5, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2024 | ||
+0.1%) | in full on maturity | ||||
(Note1) | |||||
0.29364% | |||||
Mizuho Bank, Ltd. | ¥2,000 | (Base | July 5, | Unsecured, non-guaranteed, | February 5, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2025 | ||
+0.1%) | in full on maturity | ||||
(Note1) | |||||
0.29364% | |||||
Mizuho Trust & Banking Co., Ltd. | ¥2,000 | (Base | July 5, | Unsecured, non-guaranteed, | August 5, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2024 | ||
+0.1%) | in full on maturity | ||||
(Note1) | |||||
0.29364% | |||||
Mizuho Trust & Banking Co., Ltd. | ¥2,000 | (Base | July 5, | Unsecured, non-guaranteed, | October 4, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2024 | ||
+0.1%) | in full on maturity | ||||
(Note1) | |||||
0.29364% | |||||
Mizuho Trust & Banking Co., Ltd. | ¥1,000 | (Base | July 5, | Unsecured, non-guaranteed, | February 5, |
interestrate | principal repayment | ||||
(Green Loan) | million | 2024 | 2025 | ||
+0.1%) | in full on maturity | ||||
(Note1) |
(Note 1) Base interest rate shall be the 1-month JBA Japanese Yen TIBOR . Please refer to the JBA TIBOR Administration's website (http://www.jbatibor.or.jp/english/rate/) for the JBA Japanese Yen TIBOR.
(Note 2) As for the the green loans, loans will be taken out based on the Sustainability Finance Framework established by JPR. For details of the Sustainability Finance Framework, please refer to our website. https://www.jpr-reit.co.jp/en/sustainability/e_green_finance.html
(Note 3) The green loans will be used for the repayment of loans needed to acquire Nakano Central Park East, which is an eligible green asset. Concerning the Eligible Assets for which the proceeds will be used, the Director and General Manager, Finance and Administration Division and CFO will evaluate and select them after discussions on conformity to the eligibility criteria by the Sustainability Group of the Finance and Investor Relation Department at Tokyo Tatemono Realty Investment Management, Inc. and confirmation by the Sustainability Committee for which the CEO serves as the chairperson.
2. Use of Funds
JPR will undertake this borrowing to repay the short-term borrowing of ¥17,000 million which will become due for repayment on July 5, 2024. For details of the property to be acquired, please refer to the "Notice Concerning Borrowing (Green Loan) " released on Feburuary 28, 2024.
3. Status of Debt after Additional Borrowing
(Yen in millions) | |||
Balance before | Balance after | Change | |
Additional Borrowing | Additional Borrowing | ||
Short-Term Loans Payable | 17,000 | 17,000 | - |
Long-Term Loans Payable | 182,500 | 182,500 | - |
Investment Corporation Bonds | 30,900 | 30,900 | - |
Interest-Bearing Debt | 230,400 | 230,400 | - |
Ratio of Interest-Bearing Debt to Total Assets (Note 2) | 43.0% | 43.0% | - |
(Note 1) Long-Term Loans Payable and Investment Corporation Bonds each include the current portions.
(Note 2) Ratio of Interest-Bearing Debt to Total Assets mentioned above is calculated using the following formula and then rounded to the first decimal place:
Ratio of Interest-Bearing Debt to Total Assets (%) = Interest-Bearing Debt ÷ Total Assets x 100
Total Assets is calculated by adding or subtracting the increase or decrease in Interest-Bearing Debt and unitholders' capital after the end of the fiscal period ended December 31, 2023 to the total assets as of the end of the fiscal period ended December 31,2023.
4. Other Matters Required for Investors to Appropriately Understand and Evaluate the Above Information There will be no changes made to the content of the investment risk indicated in the Securities Report filed on March 26, 2024 with respect to the risks involved in repayment, etc. of the current borrowings.
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Disclaimer
Japan Prime Realty Investment Corporation published this content on 03 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 July 2024 06:06:05 UTC.
