ORIX JREIT Inc., represented by its ORIX Asset Management Corp. asset manager, will receive new debt financing through five loans amounting to ¥4.00 billion from a number of banks.
The Japanese diversified real estate investment trust secured ¥1.20 billion through a loan maturing March 22, 2021, from Sumitomo Mitsui Banking Corp.; ¥700.0 million from a loan expiring March 20, 2023, from Sumitomo Mitsui Trust Bank Ltd.; ¥300.0 million from Mitsubishi UFJ Trust and Banking Corp. that will mature March 23, 2026; ¥1.00 billion from ORIX Bank Corp. in a loan that will run until March 20, 2028; and ¥800.0 million through a loan expiring March 20, 2028, from Mizuho Bank Ltd.
The respective unsecured, nonguaranteed loans carry different fixed and floating interest rates, and will all be drawn down March 19, according to a filing.
The loan proceeds will go toward repaying the REIT's ¥4.00 billion long-term loan due on the drawdown date.
As of March 14, US$1 was equivalent to ¥106.17.
