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Nippon Accommodations secures loans worth ¥6B

Nippon Accommodations Fund Inc. secured four loans worth a total of ¥6.00 billion to repay short-term loans of the same value.

The 77 Bank Ltd. and Shinkin Central Bank will lend ¥2.00 billion and ¥1.00 billion, respectively, at an interest rate of 0.08545%. Mizuho Bank Ltd. and Sumitomo Mitsui Trust Bank Ltd. will respectively provide loans of ¥2.00 billion and ¥1.00 billion, with an interest rate of 0.08045%.

The unsecured and unguaranteed loans will mature April 27, the Tokyo-based real estate company said in a release.

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