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Hankyu REIT signs ¥7.2B loan deals

Hankyu REIT Inc. secured ¥7.20 billion of debt financing from a syndicate of banks that will be used to repay borrowings of the same amount.

Sumitomo Mitsui Banking Corp. will provide ¥3.00 billion, while Development Bank of Japan Inc., Mizuho Bank Ltd. and Mizuho Trust & Banking Co. Ltd. will each lend ¥500.0 million. Meanwhile, The Senshu Ikeda Bank Ltd. and MUFG Bank Ltd. will each advance amounts of ¥200.0 million and ¥2.50 billion, respectively.

The sum that MUFG Bank is providing will mature May 28, 2019, while the other amounts are due May 31, 2028, with the loans to be drawn down between May 24 and May 31.

As of May 16, US$1 was equivalent to ¥110.26.