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Japan Excellent renews ¥14B commitment line of credit

Office landlord Japan Excellent Inc. renewed the agreement involving its commitment line of credit for ¥14.0 billion in aggregate, which was due to expire Jan. 29, 2019.

The term of the new commitment line — signed with lenders Mizuho Bank Ltd., MUFG Bank Ltd. and Sumitomo Mitsui Banking Corp. — will run from Jan. 30, 2019, to Jan. 29, 2020.

Proceeds from the unsecured and non-guaranteed line of credit will be used to repay existing debt, including investment corporate bonds.

As of Dec. 25, US$1 was equivalent to ¥110.21.