Tokyu Reit, Inc. TSE:8957
Tokyu REIT : Notice Concerning Long-Term Debt Financing
Source: MarketScreener
August 3, 2022
Real Estate Investment Trust Unit Issuer:
TOKYU REIT, Inc.
1-12-1, Dogenzaka,
Shibuya-ku, Tokyo, 150-0043, Japan
Kazuyoshi Kashiwazaki
Executive Director
(Securities Code: 8957)
Investment Management Company:
Tokyu Real Estate Investment Management Inc.
Representative:
Kazuyoshi Kashiwazaki
Representative Director & President, Chief Executive Officer
Inquiries:
Yuji Shimizu
General Manager, Finance and IR
TEL: +81-3-5428-5828
Notice Concerning Long-Term Debt Financing
TOKYU REIT, Inc. ("TOKYU REIT") today announced its decision to undertake debt financing. Brief details are as follows.
1. Debt Financing
（1）Rationale
TOKYU REIT will undertake debt financing for procurement of part of funds for the extension work of Tokyu Toranomon Building, which was completed on June 30, 2022.
（2）Details of Debt Financing
Classification | Long-Term Debt |
Lender | Sumitomo Mitsui Trust Bank, Limited. |
Debt Financing Amount | ¥1,500 million |
Interest Rate | 0.56282% |
(Fixed interest rate) | |
Repayment Method | Lump-sum repayment on maturity |
Drawdown Date | August 5, 2022 |
Maturity Date (Note) | January 30, 2026 |
Period | 3.5 years |
Collateral | Unsecured, unguaranteed |
Financing Fee | None |
(Note) In case the repayment date is not a business day, such date will be the following business day or the preceding business day (if the immediately following business day falls into the following month).
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2. Total Debt After Additional Debt Financing and Repayment
Debt Balance Prior to | Debt Balance after | ||
Additional Debt | Additional Debt | Change | |
Financing and | Financing and | ||
(¥ millions) | |||
Repayment | Repayment | ||
(¥ millions) | (¥ millions) | ||
Short-Term Debt Financing | 0 | 0 | - |
Long-Term Debt Financing | 85,000 | 86,500 | +1,500 |
Total Debt Financing | 85,000 | 86,500 | +1,500 |
Investment Corporation | 8,000 | 8,000 | - |
Bonds | |||
Interest-Bearing Debt | 93,000 | 94,500 | +1,500 |
3. Others
Regarding the loan repayment risk, there is no change to the "Investment risks" of the latest securities report submitted on April 22, 2022.
[Reference]
June 30, 2022 Notice Concerning Completion of Additional Acquisition with the Completion of Extension Work of Domestic Real Estate (Tokyu Toranomon Building)
This notice may contain forward-looking statements, such as current plans, strategies, and future performance. These forward-looking statements are based on judgments obtained from currently available information. Please be advised that, for a variety of reasons, actual results may differ materially from those discussed in the forward-looking statements. Events that might affect actual results include, but are not limited to, fluctuations of the real estate market in Japan, general conditions of the Japanese economy, competitive pressures and relevant regulations.
This notice is a translation of the original document in Japanese and is prepared solely for the convenience of non-Japanese speakers. There is no assurance as to the accuracy of the English translation. The original Japanese notice shall prevail in the event of any discrepancies between the translation and the Japanese original.
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