trending Market Intelligence /marketintelligence/en/news-insights/trending/quqrr6_8ddqma_oij4sv2a2 content esgSubNav
In This List

Activia to issue ¥50B of investment corporation bonds, obtain loans worth ¥17B

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Activia to issue ¥50B of investment corporation bonds, obtain loans worth ¥17B

Activia Properties Inc. plans to issue unsecured domestic investment corporation bonds worth ¥50 billion and obtain ¥17 billion of loans.

The bonds, each valued over ¥100 million, may be issued in several tranches between June 1 to May 31, 2019.

Proceeds will fund the acquisition of assets, repayment of borrowings, redemption of investment corporation bonds, working capital, among other uses.

Additionally, Sumitomo Mitsui Trust Bank Ltd., Mizuho Bank Ltd. and MUFG Bank Ltd. will extend a one-year, ¥5 billion loan at a base interest rate equal to the Japanese Bankers Association's one-month Tokyo Interbank Offered Rate plus 0.13%. The amount will be drawn down June 1.

The three lenders will join Sumitomo Mitsui Banking Corp. and Development Bank of Japan Inc. to provide the office-focused real estate investment trust another ¥5 billion and a ¥7 billion loan at a yet-to-be-determined interest rate. The loans will be secured June 13 and mature June 15, 2022, and June 13, 2027, respectively.

Activia will use the proceeds from the loans to redeem a short-term borrowing worth ¥5 billion and a long-term borrowing of ¥12 billion.

As of May 28, US$1 was equivalent to ¥109.36.