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Activia Properties secures ¥12B commitment line from 3 banks

Activia Properties Inc. signed an up to ¥12 billion commitment line agreement with three banks as another commitment line of the same amount is set to be terminated June 12.

Sumitomo Mitsui Trust Bank Ltd., Mizuho Bank Ltd. and MUFG Bank Ltd. are providing ¥4 billion each, with the unsecured and unguaranteed financing deemed effective from June 13 to June 12, 2019.

The Japanese diversified real estate investment trust also entered into another deal with the same banks for a credit line on a noncommitment basis, which has the same amount and terms as the commitment line.

As of June 8, US$1 was equivalent to ¥109.47.