June 30, 2021
For Immediate Release
Real Estate Investment Trust Securities Issuer:
Comforia Residential REIT, Inc
21-1 Dogenzaka 1-chome,Shibuya-ku,Tokyo
Takehiro Izawa
Executive Director
(Code: 3282)
Asset Management Company:
TLC REIT Management Inc.
Hiroyuki Tohmata
President & CEO
Inquiries:
Daisuke Kawauchi
General Manager of Strategy Department
Comforia Management Division
(TEL:+81-3-6455-3388)
Notice Concerning Early Repayment
Comforia Residential REIT, Inc ("CRR") announces that it decided today to proceed with early repayment (the "Early Repayment") as described in the press release titled "Notice Concerning Issuance of Investment Corporation Bonds" announced today. Details are as follows:
1． Early Repayment
(1) Description of Early Repayment
Lender | Mizuho Bank, Ltd., | |
Sumitomo Mitsui Trust Bank, Limited, | ||
MUFG Bank, Ltd. | ||
Loan amount | 1,650 million yen | 1,950 million yen |
Interest rate | Basic interest rate（JBA 1 month yen TIBOR）＋0.20％ |
Drawdown date
Scheduled principal repayment date（Note）
(Note) The maturity of the borrowing stated above is July 31, 2021.
June 26, 2020
July 14, 2021
(2) Funds for repayment
A part of the net proceeds from the issuance of Comforia Residential REIT, Inc 9th through 11th unsecured bonds (with pari passu clause among specified investment corporation bonds) which will be paid on July 8, 2021 will be applied. For further details, please refer to the "Notice Concerning Issuance of Investment Corporation Bonds" announced as of today.
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2．Status of Borrowings and Investment Corporation Bonds after the Early Repayment
(million yen) | |||
Before the Early | After the Early | ||
Repayment | |||
Repayment | Change | ||
(As of July 30, 2021) | |||
(As of June 30, 2021) | |||
(Note 1) | |||
Short-Term Loans (Note 2) | - | - | - |
Current portion of long- | |||
term loans (to be repaid | 24,200 | 20,600 | ▲3,600 |
within one year or less) | |||
Long-Term Loans (Note 2) | 104,930 | 104,930 | - |
Total of Loans | 129,130 | 125,530 | ▲3,600 |
Current portion of investment | |||
corporation bonds (to be redeemed | 3,000 | 1,000 | ▲2,000 |
within one year or less) (Note 3) | |||
Investment Corporation Bonds (Note 3) | 9,500 | 15,100 | 5,600 |
Total of Loans and | 141,630 | 141,630 | - |
Investment Corporation Bonds | |||
(Note 1) The calculation of the outstandings is based on the assumption that the issuance of the Investment Corporation Bonds (6,600 million yen in total) will be executed on July 8, 2021 and the 1st unsecured bonds (with pari passu clause among specified investment corporation bonds) (3,000 nillion yen) will be redeemed on July 30, 2021.
(Note 2) Short-term loans are loans that will come due within one year, while long-term loans are loans that will come due after one year.
(Note 3) The 2nd unsecured bonds (with pari passu clause among specified investment corporation bonds) (total amount of bonds:1,000 million yen, redemption date: July 15, 2022) is included in the section of "Investment Corporation Bonds" on "Before the Early Repayment" and is included in the section of "Current portion of investment corporation bonds (to be redeemed within one year or less)" on "After the Early Repayment".
*Website of CRR: https://www.comforia-reit.co.jp/en/
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