Japan Real Estate Investment : Announcement of Debt Financing
August 16, 2022 at 04:54 pm
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NEWS RELEASE
August 16, 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 Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to procure funds as follows:
1. Reason for the borrowing
Repayment of the existing short‐term loan of JPY 11 billion executed on May 18, 2022.
2. Overview of the borrowing
(1)
Borrowing date
August 18, 2022
(2)
Lender, Amount of loan, Principal repayment date
Lender
Amount of loan
Principal repayment date
MUFG Bank, Ltd. (Note)
JPY 11,000 million
November 18, 2022
(3)
Interest rate:
0.10364% (Fixed)
(4)
Method of borrowing:
Loan based on overdraft agreement
Unsecured/unguaranteed loan
(5)
Interest payment date:
The principal repayment date
(6)
Method of principal repayment:
Lump‐sum repayment on the principal repayment date
(Note) The lender, MUFG Bank, Ltd., will assign all or part of the loan receivable to be owed by JRE to Mitsubishi UFJ Trust and Banking Corporation ("MUTB"). MUTB will form a money trust called "jointly‐operated designated money trust", in which the said loan receivable is placed as trust property, and then will manage the trust with money entrusted by investors. For more information, please refer to "Announcement of Debt Financing" dated November 8, 2019.
1
Overview of Existing Loan Subject to Repayment
(1) Borrowing date:
May 18, 2022
(2) Lender, Amount of loan, Principal repayment date, Disclosed date:
Lender
Amount of loan
Principal repayment
Disclosed date
date
MUFG Bank, Ltd.
JPY 11,000 million
August 18, 2022
May 16, 2022
3. Balance of interest‐bearing debt after the debt financing
(Units: millions of JPY)
Before
After
Increase/Decrease
Short‐term loans payable
23,200
23,200
±0
Long‐term loans payable
21,000
21,000
±0
(Variable interest rate)
Long‐term loans payable
336,700
336,700
±0
(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
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 16, 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 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 15:53:39 UTC.
Japan Real Estate Investment Corp is a Japan-based real estate investment trust (REIT) company. The Company aims to achieve stable earnings from mid- to long-term perspectives through investment in office buildings and other assets mainly located in the Tokyo metropolitan area and other major cities. The Company also invests in real estate-related securities. Its main portfolio includes Kitanomaru Square, Shiodome Building, Akasaka Park Building, Mitsubishi UFJ Trust and Banking Building, MM Park Building, Shibuya Cross Tower, Tokyo Opera City Building, Harumi Front, Harumi Center Building and Shin-Fujita Building, among others. The asset manager of Japan Real Estate Investment is Japan Real Estate Asset Management Co Ltd.