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Nippon Accommodations to borrow ¥6B of loans

Japanese real estate investment trust Nippon Accommodations Fund Inc. is borrowing ¥6.00 billion of loans Feb. 28 to repay short-term loans of a similar amount, which were settled Jan. 31.

The 77 Bank Ltd. and Shinkin Central Bank are lending ¥2.00 billion and ¥1.00 billion, respectively, at the same interest rate of 0.08545%.

Meanwhile, Mizuho Bank Ltd. and Sumitomo Mitsui Trust Bank Ltd. will lend ¥2.00 billion and ¥1.00 billion, respectively, at an interest rate of 0.08045%.

The new unsecured and unguaranteed loans will mature March 30, the company said.

As of Feb. 23, US$1 was equivalent to ¥106.64.