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Japan Real Estate Investment to issue ¥10B of bonds in private placement

Japan Real Estate Investment Corp. will offer ¥10 billion worth of corporate bonds with an annual interest rate of 0.3975% to qualified institutional investors.

Issue period will be from March 10 to Sept. 30, according to an earlier release.

The company intends to use part of the proceeds to buy an additional 5% stake in Shiodome Building in Minato-ku, Tokyo, from Mitsui & Co. Real Estate Ltd. in a deal expected to close March 30.

DBJ Securities Co. Ltd. is the agent handling the private placement.

As of March 28, US$1 was equivalent to ¥110.27.