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Sekisui to secure ¥6.1B loans for loan repayment, bond redemption

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Sekisui to secure ¥6.1B loans for loan repayment, bond redemption

Sekisui House Residential Investment Corp. agreed to borrow ¥6.10 billion to redeem ¥4.0 billion of its investment corporation bonds due Feb. 28 and repay a ¥2.1 billion loan maturing on the same date.

Mizuho Bank Ltd., Sumitomo Mitsui Banking Corp. and The Bank of Tokyo-Mitsubishi UFJ Ltd. will lend ¥4.00 billion on Feb. 27, with a principal repayment date of Feb. 28, 2019.

Mizuho Bank Ltd., The 77 Bank Ltd., The Hiroshima Bank Ltd. and Mitsubishi UFJ Trust and Banking Corp. will provide ¥1.60 billion at a fixed interest rate for a period of eight years, ending Feb. 27, 2026.

In addition, the multifamily-focused Japanese real estate investment trust will take out an eight-year, fixed-rate ¥500.0 million loan from The Bank of Tokyo-Mitsubishi UFJ Ltd. on Feb. 28.

As of Feb. 20, US$1 was equivalent to ¥107.30.