Japan Real Estate Investment Corp. secured a ¥5.00 billion loan for the early repayment of a loan of the same amount that is due Dec. 26.
The new loan was secured from Mitsubishi UFJ Trust and Banking Corp., and comes with a base rate of three-month yen-denominated London Interbank Offered Rate, plus 0.09%. The loan period starts March 26 and is scheduled to be repaid March 26, 2024.
The loan to be repaid early, meanwhile, was also obtained from Mitsubishi UFJ. The loan has an interest rate of 0.0954% from Feb. 26 to March 25, with the loan period starting Dec. 26, 2017.
Both loans are unsecured and unguaranteed, according to the office real estate investment trust.
As of March 13, US$1 was equivalent to ¥106.57.
