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Japan Hotel REIT to issue ¥34.92B of new units


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Japan Hotel REIT to issue ¥34.92B of new units

plans to issue a total of 428,260 new investment units priced at ¥81,536 apiece.

Theissuance worth around ¥34.92 billion comprises 164,260 units for the domestic publicoffering; 235,740 units in the overseas offering; and 28,260 units for theoverseas underwriters.

Thesubscription period for the domestic offering is from July 21 to July 22,according to a filing.

JapanHotel REIT intends to use the proceeds to replenish cash on hand that was usedto acquire Hotel Centraza Hakata.It will also use the proceeds to fund a portion of costs for the Hotel VistaGrande Osaka, Hilton Nagoya and Hotel Ascent Fukuoka.

JapanHotel REIT will use the remaining proceeds, if any, for future acquisition ofcertain assets, and to repay loans, among other purposes.

As of July 20, US$1 wasequivalent to ¥106.69.