Advance Residence Investment: Notice Regarding Debt Financing and Loan Repayment
21 October 2021
For immediate release
Advance Residence Investment Corporation
Securities Code??3269
1-105Kanda-Jinbocho, Chiyoda-ku, Tokyo
Wataru Higuchi, Executive Director
Asset management company:
AD Investment Management Co., Ltd.
Takeshi Takano, President
Surveys:
Isao Kudo, director
PHONE. + 81-3-3518-0480
Notice Regarding Debt Financing and Loan Repayment
Advance Residence Investment Corporation (ADR) today announced its decision to borrow funds to repay future loans.
1. Debt financing (draw date: October 29, 2021)
- Debt Financing Details
(JPY: millions) | ||||||||||||||||
Planned | Program | Main | Refund | Main | Collateral/ | |||||||||||
No. | Lender | Draw down | Interest rate | Refund | ||||||||||||
Dated | Rising | Dated | Period | Refund | Guarantee | |||||||||||
1 | 1000 | Not corrected note 1 | October | 4.0 years | Pay in full | |||||||||||
Sumitomo Mitsui Bank | October | 31, 2025 | Insecure | |||||||||||||
on the | ||||||||||||||||
company | 29, 2021 | Not guaranteed | ||||||||||||||
October | due date | |||||||||||||||
2 | 500 | Not corrected note 1 | 3.0 years | |||||||||||||
31, 2024 | ||||||||||||||||
Total or weighted average | 1,500 | 3.7 years | ||||||||||||||
Note 1 The interest rate for the loan will be announced separately. The interest payment dates are the last business day of January, April, July, October, starting January 31, 2022 and ending on the principal repayment date.
(2) Purpose of debt financing
To repay the existing loan due on October 29, 2021.
- Expected date of the debt financing contract October 27, 2021
1
[Provisional Translation]
This English translation of the original Japanese document is provided for informational purposes only. In the event of any discrepancies between this translation and the Japanese original, the latter shall prevail.
2. Details of the loan to be repaid
(JPY: millions) | ||||||||||||||
Planned | Program | Main | Refund | Main | Collateral/ | |||||||||
Lender | Draw | Interest rate note 2 | Refund | |||||||||||
Dated | Rising | Dated | Period | Refund | Guarantee | |||||||||
Sumitomo Mitsui Bank | April | 1,500 | 1.25425% | October | 8.5 years | Pay in full | Insecure | |||||||
on the | ||||||||||||||
company | 30, 2013 | 29, 2021 | Not guaranteed | |||||||||||
due date | ||||||||||||||
Note 2 The interest rate is fixed through an interest rate swap.
Reference material: Debt financing balance (as of October 29, 2021)
(JPY: millions) | |||||
Before refinancing note 3 | After refinancing note 4 | Increase decrease) | |||
Short term loan note 5 | 2,700 | 2,700 | – | ||
Long term loans note 5 | 186 009 | 183,409 | (2,600) | ||
Total loans | 188,709 | 186 109 | (2,600) | ||
Corporate investment bonds | 34,000 | 36,600 | 2,600 | ||
Total interest-bearing debt | 222,709 | 222,709 | – |
Note 3 As of October 24, 2021
- The report assumes that the following actions will be carried out by October 29, 2021
Of the 6,100 million yen of clay that will become due on October 29, 2021, 1,500 million yen will be refinanced with the long-term loan on the repayment date, and 2,000 million yen will be refinanced with the same amount of long term. term on the repayment date, as announced in the “Notice Regarding Debt Financing and Loan Repayment” of March 25, 2021. In addition, the remaining 2,600 million yen will be repaid with the proceeds of the loan. issuance of investment company bonds and on-hand from the redemption date, as announced in the “Notice regarding the issuance of investment company bonds (green bond)” dated October 19, 2021. - Short termloans are loans with a maturity of less than one year from the drawdown date; and long-term loans are loans with a maturity of more than one year.
About Advance Residence Investment Corporation
Advance Residence Investment Corporation is the largest residential J-REIT, investing in over 270 rental apartments located primarily in central Tokyo and other major cities in Japan (AUM over 460 billion yen). ADR can be expected to have a stable long-term dividend and can be seen as a defensive J-REIT, thanks to the stable income from residential assets and with the largest reserve of dividends among J-REITs.
ADR website: https://www.adr-reit.com/fr/
2
[Provisional Translation]
This English translation of the original Japanese document is provided for informational purposes only. In the event of any discrepancies between this translation and the Japanese original, the latter shall prevail.
Disclaimer
Advance Residence Investment Corporation published this content on 21 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 21, 2021 08:13:21 AM UTC.
.jpg){kind=logo}
