March 1, 2022
For Immediate Release
Real Estate Investment Trust Securities Issuer
1-7-2 Otemachi, Chiyoda-ku, Tokyo
SANKEI REAL ESTATE Inc.
Representative: Yuichi Ota, Executive Director
(TSE code: 2972)
Asset Management Company
Sankei Building Asset Management Co., Ltd.
Representative: | Yuichi Ota |
President and Chief Executive Officer | |
Contact: | Atsushi Mukai |
Director and Chief Finance & IR Officer | |
TEL: +81-3-5542-1316 |
Notice Concerning Borrowing of Funds (Refinancing)
SANKEI REAL ESTATE Inc. ("SANKEI REAL ESTATE") hereby announces its decision made today for partial refinancing of its existing loans (hereinafter, the "Refinancing") as follows.
1. Details of the Refinancing Long-term loan (Note 1)
i | Lenders | Loan syndicate with Mizuho Bank, Ltd. and Sumitomo Mitsui Banking |
Corporation as the arrangers | ||
ii | Borrowing amount | 5,600 million yen |
iii | Interest rate | To be determined (fixed interest rate) (Note 2) |
iv | Scheduled borrowing | March 14, 2022 (Note 3) |
date | ||
v | Borrowing method | Conclusion of individual loan agreement on March 10, 2022 (scheduled) with |
the lenders shown above | ||
vi | Maturity date | March 14, 2028 (Note 3) (Note 4) |
vii | Repayment method | Lump-sum repayment at maturity (Note 5) |
viii | Interest payment due | The first interest payment due date shall be June 14, 2022, followed by the |
date | 14th of every September, December, March and June thereafter, and the | |
maturity date (Note 4) | ||
ix | Security | Unsecured and non-guaranteed (Note 6) |
(Note 1) "Long-term loan" refers to borrowing for a period from the scheduled borrowing date to the maturity date of more than one year.
(Note 2) Interest rate will be announced upon the determination.
(Note 3) "Scheduled borrowing date" and "Maturity date" are the scheduled dates as of March 1, 2022, and may be changed before the final execution date of borrowing.
(Note 4) If the relevant date is not a business day, then it shall be the next business day, but if that next business day falls into the next calendar month, then it shall be the business day preceding the relevant date.
(Note 5) During the period from the abovementioned drawdown date to the maturity date, SANKEI REAL ESTATE may make early repayment of loans, in whole or in part, if SANKEI REAL ESTATE gives prior written notice and other certain terms and conditions are met.
(Note 6) SANKEI REAL ESTATE concluded a basic agreement on the borrowing of funds on March 7, 2019, and will conclude an individual loan agreement with the lenders shown above based on the basic agreement (including subsequent changes, etc.). In such individual loan agreement, provision of collateral is not assumed at the time of borrowing, but financial restrictions such as maintaining certain figures of financial indicators based on assets and liabilities will be set.
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2. Reason and Target of the Refinancing
(1) Reason for the Refinancing
To repay 5,600 million yen of the following loan due for repayment on March 14, 2022.
- Target of the Refinancing Long-term loan
i | Lenders | Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, Development Bank |
of Japan Inc., Mizuho Trust & Banking Co., Ltd., Sumitomo Mitsui Trust Bank, | ||
Limited., Shinsei Bank, Limited and Resona Bank, Limited. | ||
ii | Borrowing amount | 5,600 million yen |
iii | Interest rate | 0.36969% |
iv | Borrowing date | March 12, 2019 |
v | Borrowing method | Conclusion of individual loan agreement on March 7, 2019, with the lenders |
shown above | ||
vi | Maturity date | March 14, 2022 |
vii | Repayment method | Lump-sum repayment at maturity |
viii | Interest payment | The first interest payment due date shall be June 12, 2019, followed by the 12th |
due date | of every September, December, March and June thereafter, and the maturity | |
date | ||
ix | Security | Unsecured and non-guaranteed |
(Note) For details of the above this Refinancing, please refer to "Notice Concerning Borrowing of Funds" dated March 12, 2019.
3. Status of Loans, etc. after the Refinancing
(Unit: million yen) | ||||
Before the Refinancing | After the Refinancing | Increase (Decrease) | ||
Short-term loans (Note) | 400 | 400 | 0 | |
Long-term loans (Note) | 50,200 | 50,200 | 0 | |
Repayment due within one year | 15,200 | 9,600 | (5,600) | |
Total loans | 50,600 | 50,600 | 0 | |
Investment corporation bonds | － | － | － | |
Total loans and investment | 50,600 | 50,600 | 0 | |
corporation bonds |
(Note) "Short-term loan" refers to borrowing for a period from the borrowing date to the maturity date of one year or less. "Long-term loan" refers to borrowing for a period from the borrowing date to the maturity date of more than one year.
4. Other
Concerning the risks associated with the Refinancing, there is no significant change from the content of "Part
1. Fund Information; Section 1. Status of Fund; (3) Investment Risks" in the annual securities report submitted on November 26, 2021.
- SANKEI REAL ESTATE Inc. website:https://www.s-reit.co.jp/en/
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