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Nippon Prologis renews ¥20B commitment line

Nippon Prologis REIT Inc. amended its agreement for a ¥20 billion commitment line, established Feb. 12, 2013, to extend the term until Feb. 28, 2020, from the previously decided Feb. 19, 2018.

Under the new commitment line contract, Mizuho Bank Ltd. will provide funds alongside existing commitment providers Sumitomo Mitsui Banking Corp. and The Bank of Tokyo-Mitsubishi UFJ Ltd.

Funds from the commitment line can be used for the repayment of debt, acquisition of properties and to refund tenant leasehold and security deposits.

As of Feb. 14, US$1 was equivalent to ¥106.98.