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Japan Retail Fund extends ¥10B commitment line period

Japan Retail Fund Investment Corp. extended the contract period of its up to ¥10 billion commitment line with Sumitomo Mitsui Banking Corp. to May 31, 2020, from May 31, 2019.

The unsecured and unguaranteed commitment line, which commenced May 31, 2017, has a borrowing period that ranges from one month to three years.

The funds will be used to repay debt and redeem investment corporation bonds, among other purposes.

Additionally, the retail real estate investment trust has a separate commitment line in place for up to ¥50 billion with MUFG Bank Ltd. and Sumitomo Mitsui Trust Bank Ltd. That contract started Oct. 1, 2017, and will end Sept. 30, 2020.

As of May 30, US$1 was equivalent to ¥108.90.