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Nippon Building to secure ¥6B in long-term borrowing

Nippon Building Fund Inc. will obtain a long-term loan worth ¥6 billion from the Development Bank of Japan Inc. on May 30.

The loan will carry an interest rate of 0.2305% until its maturity on May 30, 2024.

Proceeds from the unsecured and unguaranteed loan will be used to refinance an existing long-term loan.

As of May 25, US$1 was equivalent to ¥109.37.