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Daiwa Office Investment inks deals for ¥5.5B loan

Daiwa Office Investment Corp. is planning to borrow ¥5.50 billion from four banks to repay loan of the same amount, which will expire Nov. 30.

Shinsei Bank Ltd. and Development Bank of Japan Inc. will each lend ¥2.00 billion to the company, while Tokio Marine & Nichido Fire Insurance Co. Ltd. and The Yamaguchi Bank Ltd. will provide ¥1.00 billion and ¥500 million, respectively.

The loan from Shinsei Bank, which will carry an interest rate of 0.325% plus one month Japanese yen Tokyo Interbank Offered Rate, will be repaid May 29, 2026, while the money to be borrowed from Development Bank of Japan will be paid May 30, 2025.

Meanwhile, the respective loans from Tokio Marine and The Yamaguchi Bank will be repaid Nov. 30, 2022, and Nov. 28, 2025, according to a news release.

The company said in a news release that the deals for the loans, all of which will be drawn Nov. 30, will be inked Nov. 28.

As of Nov. 27, US$ 1 was equivalent to ¥111.09.