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Japan Prime renews ¥8B commitment line

Japan Prime Realty Investment Corp. renewed its ¥8.00 billion commitment line of credit that is set to mature May 31, with ¥4.00 billion each from Mizuho Trust & Banking Co. Ltd. and Resona Bank Ltd.

Under the renewal contract, both lenders agreed to provide up to ¥4.00 billion, with a maturity date of May 31, 2019.

The two loans are part of Japan Prime's ¥24 billion commitment line of credit.

The Tokyo-based real estate investment trust said in a release that the renewal ensures flexible and stable fund procurement.

As of May 23, US$1 was equivalent to ¥110.03.