Japan Real Estate Investment: Announcement of Early Repayment of Loan and Debt Financing







August 8, 2022

For immediate release

investment company

Japanese real estate investment company

Yutaka Yanagisawa, Executive Director

(TSE Code: 8952)

Asset management company

Japan Real Estate Asset Management Co., Ltd.

Shojiro Kojima, President and CEO

Contact: Masaru Motooka

Executive Officer and General Manager

Planning Department

Phone: +81‐3‐3211‐7951

Announcement of prepayment of loan and debt financing

Japan Real Estate Investment Corporation hereby announces its decision today to repay the existing loan before the due date and procure the funds as follows:

1. Prepayment of the loan

(I) Date of prepayment:

August 10, 2022

  1. Overview of the loan to be repaid before maturity:

(1)

Prepayment amount

3,000 million yen

(2)

Amount of the loan

4,500 million yen

(3)

Loan amount after

1,500 million yen

prepayment

(4)

Lender

MUFG Bank, Ltd.

(5)

Interest rate

0.12545% (from July 15, 2022 to August 9, 2022)

(6)

borrowing date

July 15, 2022

(seven)

Borrowing method

Loan on overdraft agreement

Unsecured/unsecured loan

(8)

Interest payment date

The principal repayment date and the 10th of each month

in the period up to the principal repayment date

(9)

Method of principal repayment

Lump-sum repayment on the capital repayment date

(ten)

Principal repayment date

July 10, 2023

*There will be no prepayment charges due to this prepayment of the loan.

1

2. Debt financing

  1. Reason for borrowing
    Apply the following loans to the prepayment of the aforementioned JPY 3 billion loan

(II) Overview of borrowings

(1)

Amount of the loan

2,000 million yen

1,000 million yen

(2)

Lender

Daishi Hokuetsu Bank, Ltd.

The Chugoku Bank, Limited.

(3)

Interest rate

0.39875%

(4)

borrowing date

August 10, 2022

(5)

Borrowing method

Loan agreement dated August 8, 2022

Unsecured/unsecured loan

(6)

Interest payment date

The principal repayment date and the 10th day of each

February and August in the period until the main

repayment date (Note)

(seven)

Method of principal repayment

Lump-sum repayment on the capital repayment date

(8)

Principal repayment date

August 10, 2032

(Note) Where an interest payment date is not a business day, interest must be paid on the next business day or the previous business day if the next business day falls within the following month.

3. Balance of interest-bearing debt after debt financing

(Units: million yen)

Before

After

Increase decrease

Short-term loans payable

26,200

23,200

-3,000

Long-term loans payable

21,000

21,000

±0

(Variable interest rate)

Long-term loans payable

333,700

336,700

+3,000

(Fixed interest rate)

Total loans

380,900

380,900

±0

Investment company bonds

42,993

42,993

±0

Total

42,993

42,993

±0

investment company bonds

Total interest-bearing debt

423,893

423,893

±0

(Note) For the balances above, the borrowing described in the “Debt Financing Announcement” press release of August 1, 2022 has been taken into account.

4. Others

With respect to the risks associated with the repayment of this loan, there is no significant change in the descriptions of “Investment Risks” in the latest securities report filed on June 24, 2022.

This is the English translation of the announcement in Japanese dated August 8, 2022.

No assurance or warranty is given as to the completeness or accuracy of this English translation.

2

Disclaimer

JREI – Japanese Real Estate Investment Company published this content on August 08, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Aug 09, 2022 02:25:01 UTC.

Public now 2022

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