For information purpose only. The Japanese press release should be referred to as the original.
May 31, 2021
To All Concerned Parties
REIT Issuer:
LaSalle LOGIPORT REIT
1-11-1, Marunouchi, Chiyoda-ku, Tokyo
Representative:Toshimitsu Fujiwara, Executive Director
(Securities Identification Code: 3466)
Asset Manager:
LaSalle REIT Advisors K.K.
Representative: Toshimitsu Fujiwara, President and CEO
Contact: Taira Jigami, Head of Fund Management
TEL: +81-3-6367-5800
Notice Concerning Early Prepayment and Early Partial Prepayment of Debt Financing
LaSalle LOGIPORT REIT ("LLR") announces today that it has decided to make an early prepayment and an early partial prepayment of its debt financing (collectively the "Early Prepayment"), as outlined below.
1. Overview of the Early Prepayment of debt financing
Balance | Balance | Prepaym | |||||
Catego | before | Prepayme | after | Repaym | |||
Lenders | prepayme | nt amount | prepayme | Borrowi | ent date | ||
ent due | |||||||
ry | nt | (million | nt | ng date | (schedul | ||
date | |||||||
(million | yen) | (million | ed) | ||||
yen) | yen) | ||||||
Syndicate of | Sep 4, | Aug 31, | June 11, | ||||
lenders | 800 | 800 | - | ||||
arranged by | 2020 | 2021 | 2021 | ||||
MUFG Bank, | |||||||
Short | Ltd., Mizuho | ||||||
-term | Bank, Ltd. and | Apr 30, | Apr 28, | June 11, | |||
Sumitomo | 1,800 | 1,100 | 700 | ||||
Mitsui Banking | 2021 | 2022 | 2021 | ||||
Corporation | |||||||
(Note 1) |
Notes:
- The syndicate of lenders includes MUFG Bank, Ltd. and Mizuho Bank, Ltd.
- Due to this prepayment being made, while there will be a settlement payment generated, the impact it will have on the operational status to LLR is extremely minor.
- For details of debt financing, please refer to "Notice Concerning Borrowing of Funds" issued on September 1, 2020 and "Notice Concerning Borrowing of Funds" issued on April 26, 2021.
2. Prepayment Funds
In connection with property acquisition costs along with other expenses, LLR has received a consumption tax refund and shall appropriate part of these funds toward the prepayment of debt. In
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addition, LLR intends to use part of the net proceeds (1,132,838,000 yen) received from the issuance of new Investment Units through Third-party Allotment, with payment due date of May 25, 2021, toward the partial prepayment of this debt.
Note:
For details of the proceeds from the issuance of new investment units, please refer to "Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units" issued on April 14, 2021, "Notice Concerning Pricing for the Issuance of New Investment Units and Secondary Offering of Investment Units" issued on April 21, 2021 and "Notice Concerning Determination of the Number of New Investment Units to be Issued through Third-Party Allotment" issued on May 21, 2021.
3. Outstanding Interest-Bearing Liabilities Balances after the Early Prepayment
(Unit: | yen in millions) | ||||
As of May 31, | As of June 11, | Increase | |||
2021 | 2021 | (Decrease) | |||
Short-term Loan | 6,140 | 4,240 | (1,900) | ||
(Note) | |||||
Long-term Loan | 143,404 | 143,404 | - | ||
(Note) | |||||
Total | |||||
Loan Amount | 149,544 | 147,644 | (1,900) | ||
Total | Investment Corporation Bonds | 16,500 | 16,500 | - | |
Interest-Bearing Liabilities | 166,044 | 164,144 | (1,900) |
Note:
Short-term Loan refers to loans that are due within one year from the above mentioned date, and Long-term Loan refers to loans that are due in more than one year from the above mentioned date.
[Impact on Financial Indicators]
As of May 31, | As of June 11, | Increase | |
2021 | 2021 | (Decrease) | |
Average remaining debt term | 5.14 years | 5.16 years | Extended by |
(Note 1) | 0.02 years | ||
Ratio of fixed interest rate loans | 91.1% | 92.2% | Increased by |
(Note 2) | 1.1% | ||
Notes:
- Calculated as the average of remaining debt term weighted by interest-bearing liabilities amount. Rounded to two decimal places.
- Calculated as the balance of interest-bearing liabilities with fixed interest rate / total balance of interest-bearing liabilities * 100. Rounded to one decimal place.
4. Other Matters Necessary for Investors' Appropriate Understanding/Judgment of the Concerned Information
With respect to risks regarding the Early Prepayment, there are no material changes from the
content provided in the "Part 1. Fund Information, I. Overview of the Fund, 3. Investment Risks" section included within the Semiannual Securities Report (Japanese) for the 10th fiscal period submitted on May 28, 2021.
- The Investment Corporation's website:https://lasalle-logiport.com/english/
This notice is an English translation of the Japanese announcement dated May 31 2021. No assurance or warranties are made regarding the completeness or accuracy of this English translation. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
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