trending Market Intelligence /marketintelligence/en/news-insights/trending/fa5osgtxzxuu2laxfe_2wa2 content esgSubNav
In This List

GLP J-REIT plans ¥3B bonds issue to repay debt

CASE STUDY

Deep Market Intelligence Helps a Credit Union Craft a Successful Expansion Plan

Blog

Global M&A By the Numbers: Q1 2022

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

M&A, IPOs hit a speed bump in early 2022


GLP J-REIT plans ¥3B bonds issue to repay debt

GLP J-REIT plans to issue ¥3.00 billion of investment corporate bonds through a public offering in two tranches.

The offering comprises ¥2.00 billion of unsecured bonds with an interest rate of 0.230% per annum and ¥1.00 billion of unsecured bonds with an interest rate of 0.560% per annum. The issue and redemption prices of the bonds will be ¥100 per ¥100 of each bond, and may be redeemed July 7, 2023, and July 7, 2028, respectively.

The subscription date is July 3 and the payment date is July 9.

The roughly ¥2.98 billion of net proceeds from the issuance are marked for the partial early repayment of a loan with a balance of ¥4.16 billion that is due Feb. 28, 2019. The balance of the loan after a scheduled ¥3.0 billion repayment to be made July 13 will be ¥1.16 billion. The loan was taken out Feb. 28.

Sumitomo Mitsui Banking Corp. is the fiscal agent, issuing agent and payment agent for the bonds.

The underwriters for the first tranche of bonds are SMBC Nikko Securities Inc., Nomura Securities Co. Ltd., Mizuho Securities Co. Ltd. and Daiwa Securities Co. Ltd. SMBC Nikko Securities Inc., Mizuho Securities Co. Ltd. and Daiwa Securities Co. Ltd. are the underwriters for the second tranche.

As of July 2, US$1 was equivalent to ¥110.78.