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Japan Logistics Fund announces full subscription of third-party allotment

Japan Logistics Fund Inc. said that SMBC Nikko Securities Inc. will fully subscribe for the maximum number of investment units allotted in connection with the company's recent unit offering.

Japan Logistics will issue 2,250 units for a total of about ¥447.9 million, representing a price of ¥199,044 per unit.

The company separately said it will use a portion of the proceeds from the offering to repay ¥5.0 billion of loans ahead of their due date. The loans include ¥2.5 billion to be repaid to Sumitomo Mitsui Trust Bank Ltd., ¥1.7 billion to Mitsubishi UFJ Trust & Banking Corp., and ¥800 million to Sumitomo Mitsui Trust Bank.