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MCUBS MidCity extends contract period of ¥15B facility

MCUBS MidCity Investment Corp. extended the contract period of an unsecured and unguaranteed commitment line, carrying a maximum borrowing capacity of of ¥15 billion, by a year, to Aug. 18, 2020, from Aug. 18, 2019.

The company will use the funds drawn from the line to acquire new properties and for the renovation and repairing of its existing properties, among other purposes.

The contract period for the commitment line began Aug. 18, 2016, between the company and Mizuho Bank Ltd., Sumitomo Mitsui Trust Bank Ltd., and The Bank of Tokyo-Mitsubishi UFJ Ltd.

As of Aug. 1, US$1 was equivalent to ¥110.15.