April 20, 2021
For Immediate Release
REIT Issuer:
Daiwa House REIT Investment Corporation
2-4-8, Nagatacho, Chiyoda-ku, Tokyo
Toshiharu Asada, Executive Director
(TSE Code: 8984)
Asset Manager:
Daiwa House Asset Management Co., Ltd.
Koichi Tsuchida, President and CEO
Inquiries:
Yoshikazu Tamura, General Manager,
Fund Management Department, Daiwa House REIT Division
TEL: +81-3-3595-1265
Notice Concerning Debt Financing and Repayment of Loans
Daiwa House REIT Investment Corporation ("DHR") hereby announces that it decided today to conduct debt financing and repayment of loans (collectively referred to as the "Transaction") as described below.
1. Details of the debt financing
Anticipated | Anticipated | Principal | |||||||||||||||
Cate- | borrowing | Interest | Borrowing | Method of | |||||||||||||
Lender | date of | repayment | Collateral | ||||||||||||||
gory | amount | rate | period | repayment | |||||||||||||
execution | date | ||||||||||||||||
(million yen) | |||||||||||||||||
Sumitomo Mitsui Banking | |||||||||||||||||
Corporation; | |||||||||||||||||
MUFG Bank, Ltd.; | |||||||||||||||||
Long | Sumitomo Mitsui Trust | TBD | April 30, | September | Bullet | Unsecured | |||||||||||
Bank, Limited; | 5,500 | (Fixed) | 5.4 years | and non- | |||||||||||||
-term | Mizuho Bank, Ltd., | (Note) | 2021 | 30, 2026 | repayment | guaranteed | |||||||||||
The Norinchukin Bank; | |||||||||||||||||
Nippon Life Insurance | |||||||||||||||||
Company |
(Note) The interest rate will be announced once determined. The first interest payment date is the last day of May 2021 and subsequent interest payment dates are the last day of every 3 months thereafter and the principal repayment date (in case such date is not a business day, the following business day will be the interest payment date; however, in case this following business day falls into the following month, the immediately preceding business day will be the interest payment date).
2. Reason for conducting the debt financing
DHR will conduct the debt financing of 5,500 million yen on April 30, 2021 to repay part of its long-term loans of 9,500 million yen maturing on April 30, 2021. The difference of 4,000 million yen between the loans to be repaid and the debt financing will be repaid with the proceeds from issuance of the green bonds on April 15, 2021 and cash on hand.
3. Details of the long-term loans to be repaid
Cate- | Borrowing | Interest | Borrowing | Date of | Principal | Method of | |||||||||||
Lender | amount | repayment | Collateral | ||||||||||||||
gory | rate | period | execution | repayment | |||||||||||||
(million yen) | date | ||||||||||||||||
Sumitomo Mitsui Banking | |||||||||||||||||
Corporation; | |||||||||||||||||
MUFG Bank, Ltd.; | |||||||||||||||||
Long | Sumitomo Mitsui Trust | 0.39628% | April 11, | April 30, | Bullet | Unsecured | |||||||||||
Bank, Limited; | 9,500 | 4.1 years | and non- | ||||||||||||||
-term | Mizuho Bank, Ltd., | (Fixed) | 2017 | 2021 | repayment | guaranteed | |||||||||||
The Norinchukin Bank; | |||||||||||||||||
Nippon Life Insurance | |||||||||||||||||
Company |
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4. Status of interest-bearing debt after the Transaction
(Unit: | million yen) | ||||||
Before | After | Increase / | |||||
(as of April 20, 2021) | (as of April 30, 2021) | Decrease | |||||
Short-term loans | － | － | － | ||||
Current portion of long-term loans | 26,858 | 33,858 | 7,000 | ||||
Long-term loans | 321,700 | 310,700 | (11,000) | ||||
Total loans | 348,558 | 344,558 | (4,000) | ||||
Current portion of investment | 4,000 | 4,000 | － | ||||
corporation bonds | |||||||
Investment corporation bonds | 30,000 | 30,000 | － | ||||
due after one year | |||||||
Total investment corporation bonds | 34,000 | 34,000 | － | ||||
Total interest-bearing debt | 382,558 | 378,558 | (4,000) | ||||
5. Other
For the risks concerning this matter, there are no changes from the Japanese language securities report submitted on November 27, 2020.
- DHR's website:https://www.daiwahouse-reit.co.jp/en
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