trending Market Intelligence /marketintelligence/en/news-insights/trending/vwczc-ibdh8xy_sczmifpw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Nippon REIT Investment to borrow ¥20.9B to repay loans

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Nippon REIT Investment to borrow ¥20.9B to repay loans

Diversified real estate investment trust Nippon REIT Investment Corp. secured ¥20.90 billion in loans to partly fund the repayment of a total of ¥22.90 billion of loans due April 24 and Aug. 20.

The Bank of Tokyo-Mitsubishi UFJ Ltd. arranged loans of ¥3.20 billion, ¥2.00 billion, ¥600.0 million, and ¥1.20 billion with interest rates of 0.36%, 0.42%, 0.52% and 0.65%, respectively, above the base of one-month Tokyo Interbank Offered Rate two business days before the payment date.

The loans will be drawn April 24, and they will be due April 22, 2024; April 21, 2025; April 20, 2026; and April 20, 2028, respectively, in addition to a ¥500.0 million fixed-rate loan from Meiji Yasuda Life Insurance Co., payable April 20, 2026.

To pay the loan maturing Aug. 20, the company will, on the same date, draw loans of ¥4.35 billion, ¥4.20 billion and ¥4.85 billion from different syndicates arranged by The Bank of Tokyo-Mitsubishi UFJ Ltd., at interest rates of 0.36%, 0.42% and 0.52%, respectively, plus the one-month TIBOR base rate. The loans will be due Aug. 20, 2024; Aug. 20, 2025; and Aug. 20, 2026, respectively.

As of March 27, US$1 was equivalent to about ¥105.71.