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Activia Properties secures ¥12B commitment line

Activia Properties Inc. inked a ¥12 billion commitment line agreement with Sumitomo Mitsui Trust Bank Ltd., Mitsubishi UFJ Trust and Banking Corp., Mizuho Bank Ltd. and The Bank of Tokyo-Mitsubishi UFJ Ltd, ahead of the June 12 termination date of its existing commitment line of the same value and with the same banks.

The new commitment line will be divided equally between the four lenders, with whom the company already has a ¥8 billion commitment line agreement.

The company has also secured a ¥12 billion credit line, on a noncommitment basis, with the same banks to replace an existing credit line of the same value that is due to end June 12.

The terms of both agreements will run to June 12, 2018, from June 13, and proceeds will be used to finance future property acquisitions.

As of June 7, US$1 was equivalent to ¥109.34.