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Nippon Accommodations to borrow ¥6B of loans

Nippon Accommodations Fund Inc. signed an agreement to borrow four loans worth a total of ¥6 billion to repay short-term loans of the same amount, which were concluded Nov. 30.

The 77 Bank Ltd., Mizuho Bank Ltd., Shinkin Central Bank, Sumitomo Mitsui Trust Bank Ltd. are providing the loans, with two loans at an interest rate of 0.07545% and two loans at the rate of 0.07045%.

The funds are scheduled to be borrowed Dec. 29, with a set repayment date of Jan. 31, 2018.

As of Dec. 27, US$1 was equivalent to ¥113.22.