July 1, 2022
FOR IMMEDIATE RELEASE
Issuer of REIT Securities
1-17-10, Kyobashi, Chuo-ku, Tokyo
SOSiLA Logistics REIT, Inc.
Representative | Nobuhiko Matsumoto, |
Executive Director | |
(Securities Code: 2979) |
Asset Management Company
Sumisho Realty Management Co., Ltd.
Representative | Hideki Yano, President & CEO |
Inquiries | Tomoaki Sato, |
General Manager, REIT Management | |
Department |
TEL: +81-3-4346-0579
Notice Concerning Issuance of Green Bonds
SOSiLA Logistics REIT, Inc. ("SLR") hereby announces that it today decided to issue Green Bonds based on a comprehensive resolution on the issuance of investment corporation bonds determined at the meeting of the Board of Directors of SLR held on June 17, 2022.
1. Overview of the Investment Corporation Bonds
(1)Name | SOSiLA Logistics REIT, Inc. First Series Unsecured Investment | |
Corporation Bonds (Ranking Pari Passu among the specified | ||
Investment Corporation Bonds)(Green Bonds) | ||
(2) | Total issue amount | 1,600 million yen |
(3) | Form of bond certificate | The Bonds Transfer Act is applicable to the bonds, thus |
investment corporation bond certificates will not be issued. | ||
(4) | Amount to be paid in | 100 yen per 100 yen face value |
(5) | Redemption amount | 100 yen per 100 yen face value |
(6) | Interest rate | 0.400 % per annum |
(7) | Amount of each investment | 100 million yen |
Corporation bond | ||
(8) | Method of offering | Public offering |
(9) | Subscription period | July 1, 2022(Friday) |
(10) | Payment date | July 7, 2022(Tuesday) |
(11) | Security and guarantee | The Investment Corporation Bonds are unsecured and unguaranteed |
with no specific assets reserved for the Investment Corporation Bonds. | ||
(12) | Redemption method and date | The total amount to be redeemed on July 7, 2027 |
The corporation bonds may be purchased and cancelled at any time the | ||
date of payment unless otherwise specified by the transfer agent. | ||
(13) | Interest payment date | January 7 and July 7 of each year |
The first interest payment date is January 7, 2023 | ||
If an interest payment date falls on a bank holiday, then the date of | ||
payment will be moved to the immediately preceding bank business | ||
day | ||
(14) | Financial covenants | Negative pledge clause is attached |
(15) | Rating obtained | AA- (Japan Credit Rating Agency, Ltd.) |
(16) | Fiscal agent, issuing agent, and | Mizuho Bank, Ltd. |
Paying agent | ||
(17) | Underwriters | Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. |
Mizuho Securities Co., Ltd. |
Daiwa Securities Co., Ltd.
Nomura Securities Co., Ltd.
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2. Reason for Issuance
SLR aims to strengthen the funding platform by expanding the ESG investor base, along with promoting ESG initiatives, by procuring funds through the Investment Corporation Bonds. The Investment Corporation Bonds will be issued as green bonds based on the green finance framework which was announced in the "Notice Concerning Submission of Revised Shelf Registration Statement for Issuance of Green Bonds" released on June 20, 2022, for eligibility of the green finance framework, Starts Proceed has been assigned "Green 1 (F)," the highest evaluation grade in the JCR Green Finance Framework Evaluation by Japan Credit Rating Agency, Ltd. For further details of the framework please refer to the news release above mentioned.
- Amount, Use, and Scheduled Date of Expenditure of Funds to be Procured (1)Amount of funds to be procured (estimated net proceeds)
1,584 million yen- Specific use and scheduled date of expenditure of funds to be procured
The estimated net proceeds of 1,584 million yen, calculated by deducting the estimated issuance cost of 15 million yen from the total issue amount of 1,600 million yen, will be used by July 29, 2022 to partially fund the prepayment of the short-term borrowings maturing on March 31, 2023 (all proceeds have been used for the acquisition of SOSiLA Itabashi and SOSiLA Amagasaki (Quasi-co-ownership interest ratio: 10%)) and the prepayment of the short-term borrowings maturing on November 30, 2022 (all proceeds have been used for the acquisition of SOSiLA Yokohama Kohoku (Quasi-co-ownership interest ratio: 80%), SOSiLA Sagamihara, SOSiLA Kasukabe, SOSiLA Kawagoe and SOSiLA Nishiyodogawa I).
- Investors who declared investment in the Green Bonds
Listed below in alphabetical order are investors to date who declared their intention of investment in the Green Bonds. ・Aoi Mori Shinkin Bank
・Osaka Shoko Shinkin Bank
・KOITO MANUFACTURING CO., LTD ・The Kita Osaka Shinkin Bank
・The Fuji Shinkin Bank
・Ryobi Shinkumi Bank
5. Outstanding Debt Balance after Issuance of the Investment Corporation Bonds
(Unit: million yen) | |||
Before the Issuance | After the Issuance | Change | |
Short-term borrowings | 3,790 | 3,790 | - |
Long-term borrowings | 46,200 | 46,200 | - |
Total borrowings | 49,990 | 49,990 | - |
Investment corporation bonds | - | 1,600 | +1,600 |
Total borrowings and | 49,990 | 51,590 | +1,600 |
investment corporation bonds | |||
6. Others
Concerning the risks pertaining to the issuance of the Investment Corporation Bonds, there will be no change to the content of "Chapter 1 Fund Information - Part 1 Fund Status 3. Investment Risks" of the securities report filed on February 24, 2022.
* For more information about SLR, please visit: https://sosila-reit.co.jp/en/
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SOSiLA Logistics REIT Inc. published this content on 01 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2022 03:22:04 UTC.