Japan Rental Housing Investments Inc. signed interest rate swap agreements for three term loans totaling ¥13.70 billion, which are part of the residential real estate investment trust's ¥14.20 billion of loans to be refinanced Dec. 25.

The ¥2.00 billion, ¥5.54 billion and ¥6.16 billion loans will effectively carry fixed rates of 0.4220%, 0.4735% and 0.6760%, respectively, with Nomura Securities Co. Ltd. acting as the counterparty for the first two loans and Mizuho Bank Ltd. for the third.

The swap deals, which aim to hedge against potential interest rate hikes, will take effect Dec. 25. They will be terminated Dec. 30, 2022, March 29, 2024, and Dec. 30, 2026, respectively.

As of Dec. 19, US$1 was equivalent to ¥112.20.