June 10, 2022
Press Release
Issuer of Real Estate Investment Trust Securities
MORI TRUST Sogo Reit, Inc.
4-3-1 Toranomon, Minato-ku, Tokyo
Masayuki Yagi,
Executive Director (TSE code 8961)
Asset Management Company:
MORI TRUST Asset Management Co., Ltd. Michio Yamamoto
President and Representative Director Contact:
Hiroshi Naito
General Manager, Strategic Management Department,
Sogo REIT Management Division
Phone: +81-3-6435-7011
Notice Concerning Issuance of Investment Corporation Bonds
Tokyo, June 10, 2022 - Mori Trust Sogo Reit, Inc. (MTR) announced today its decision to issue a total of 2 billion yen in investment corporation bonds.
1. Outline of the investment corporation bonds
(1) | Name of bonds: | MORI TRUST Sogo Reit, Inc. Eighteenth Series Unsecured |
Investment Corporation Bonds (Ranking Pari Passu among the | ||
specified Investment Corporation Bonds) | ||
(2) | Issue amount: | 2 billion yen |
(3) | Bond certificate: | The Bonds Transfer Act is applicable to the bonds, thus investment |
corporation bond certificates will not be issued. | ||
(4) | Issuance price: | 100 yen per 100 yen face value |
(5) | Redemption price: | 100 yen per 100 yen face value |
(6) | Interest rate: | 0.420% per annum |
(7) | Amount per offering: | 100 million yen |
(8) | Offering method: | Public placement |
(9) | Date of offering: | June 10, 2022 (Friday) |
(10) | Date of payment: | June 20, 2022 (Monday) |
(11) | Collateral: | There is no secured mortgage or guarantee on the bonds. There are no |
assets reserved as security for the bonds. | ||
(12) | Redemption method and date: | The total amount to be redeemed on February 29, 2028 |
The corporation bonds may be repurchased and cancelled at any time | ||
after the date of payment unless otherwise specified by the transfer | ||
agent. | ||
(13) | Interest payment date: | The end of February and August of each year |
(14) | Covenants: | Negative pledge |
(15) | Ratings: | AA (Japan Credit Rating Agency, Ltd.) |
(16) | Fiscal agent /Issuing and | Mizuho Bank, Ltd. |
payment agent: | ||
(17) | Underwriters: | Mizuho Securities Co., Ltd. |
Disclaimer:
This English language document is provided as a service and is not intended to be an official statement. Should a discrepancy be found, the Japanese original will always govern the meaning and interpretation.
1
2. Reason for bond issuance
To increase cash on hand and secure funds needed for the redemption of investment corporation bonds or for the repayment of existing loans.
3. Amount, timing, and use of the bond sale proceeds
- Net amount of proceeds: approximately 1,984 million yen
-
Timing and use:
1,000 million yen of the proceeds from the bond issuance will be used as cash on hand that has
decreased due to the redemption of eleventh series unsecured investment corporation bonds on February 22, 2022. The balance will be used as a source of funds for the redemption of twelfth series unsecured investment corporation bonds (4,000 million yen) coming due on February 22, 2023, or for the repayment of existing loans, which reach maturity by the end of March 2023.
4. Status of loans and bonds after the bond issuance
(Million yen) | ||||
Before | After | Increase/Decrease | ||
Short-term loans | 6,000 | 6,000 | － | |
Long-term loans | 135,000 | 135,000 | － | |
Investment Corporation Bonds | 13,000 | 15,000 | +2,000 | |
Total | 154,000 | 156,000 | +2,000 | |
Disclaimer:
This English language document is provided as a service and is not intended to be an official statement. Should a discrepancy be found, the Japanese original will always govern the meaning and interpretation.
2