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Nippon Building Fund to borrow ¥10B in loans

Nippon Building Fund Inc. will borrow loans totaling ¥10 billion to refinance a long-term debt and partially fund its cash distribution for the 36th financial period.

The loans comprise ¥7 billion of long-term borrowings from Sumitomo Mitsui Trust Bank Ltd. and Taiju Life Insurance Co. Ltd., as well as ¥3 billion of short-term borrowings from Sumitomo Mitsui Trust Bank Ltd., Mizuho Bank Ltd. and Resona Bank Ltd.

All of the loans are unsecured, unguaranteed and repayable in one lump sum on their respective due dates.

As of Sept. 9, US$1 was equivalent to ¥107.14.