Nippon Building Fund Inc. secured short-term loans totaling ¥8 billion from five separate lenders at an interest rate of 0.08545%.
Of the total, Sumitomo Mitsui Trust Bank Ltd. will provide ¥3 billion and Shinkin Central Bank will provide ¥2 billion. Mizuho Bank Ltd., Resona Bank Ltd. and The Yamanashi Chuo Bank Ltd. will each provide ¥1 billion.
The Japanese office real estate investment trust will use the borrowings to partially finance its upcoming cash distribution payment, according to a company release.
The loans, due Oct. 12, are expected to be drawn down Sept. 12.
As of Sept. 7, US$1 was equivalent to ¥111.16.