JAPAN METROPOLITAN FUND INVESTMENT CORPORATION Japan Retail Fund Investment Corporation (Tokyo Stock Exchange Company Code: 8953)
News Release -January 22, 2016
Japan Retail Fund Investment Corporation ("JRF") announced today the refinancing of existing borrowing as outlined below.
Refinancing
JRF will refinance the Syndicated Loan from Mizuho Bank, Ltd. , The Shinkumi Federation Bank, The Hiroshima Bank Ltd., The Senshu Ikeda Bank, Ltd. and The Minato Bank, Ltd. which reaches maturity on February 5, 2016 (borrowing period of five years, 11 billion yen) with the 1 year short-term borrowings (total amount 1 billion yen) on February 3, 2016. JRF will also repay the rest of 10 billion yen by internal cash.
-Description of new debt
Lender
Amount outstanding
Debt term
Interest rate (Note 1)
Anticipated Borrowing date
Method of borrowing, repayment of principal
Repayment date
Mizuho Bank, Ltd.
¥1 billion
1 year
Floating
Base interest rate (JBA 1-month yen TIBOR) + 0.12%
February 3,
2016
Unsecured and unguaranteed, lump sum repayment
January 31,
2017
(Note 1) Interest payment dates are the end of every month and the principal repayment date (or immediately preceding business day if the date is not a business day). The base interest rate applied to an interest calculation period is Japanese yen TIBOR for 1 month, which the Japanese Bankers Association (JBA) releases two business days before the interest payment date thereof. If the calculation period is less than one month, the base interest rate is calculated by the method stipulated in the loan contract.
(Note 2) You can find JBA yen TIBOR on the JBA website (http://www.jbatibor.or.jp/english/rate/).
(Reference) Description of repayment
Lender
Amount outstanding
Debt term
Interest rate
Borrowing date
Method of borrowing, repayment of principal
Repayment date
Mizuho Bank, Ltd.
¥11 billion
5
years
Fixed
0.73500%*
February 7,
2011
Unsecured and unguaranteed, lump sum repayment
February 5,
2016
The Shinkumi Federation Bank
The Hiroshima Bank Ltd.
The Senshu Ikeda Bank, Ltd.
The Minato Bank, Ltd.
* The interest rate is described after fixed by the swap contract.
Status of interest-bearing debt after financing
(Yen in millions)
Before | After | Variation | |||
Short-term borrowings | 0 | 1,000 | +1,000 | ||
Total short-term interest-bearing debt | 0 | 1,000 | +1,000 | ||
Long-term borrowings | 312,091 | 301,091 | -11,000 | ||
Corporate bond | 47,500 | 47,500 | 0 | ||
Total long-term interest-bearing debt | 359,591 | 348,591 | -11,000 | ||
Total borrowings and corporate bonds | 359,591 | 348,591 | -10,000 | ||
(Note) Long-term borrowing amount includes the current portion of long-term borrowings.
About JRF: JRF is the third listed Japanese Real Estate Investment Trust ("J-REIT") and the first J-REIT to focus exclusively on retail properties. Please refer to our website at http://www.jrf-reit.com/english/index.html for further details.
Contacts: For further information relating to this press release as well as JRF and Mitsubishi Corp.-UBS Realty Inc., its Asset Manager, please feel free to contact:
Mr. Keita Araki (Telephone Number: 81-3-5293-7080), Head of Retail Division at Mitsubishi Corp.-UBS Realty Inc., Investor Relations: Telephone Number: 81-3-5293-7081
E-mail: jrf-8953.ir@mc-ubs.com
This translation is for informational purposes only, and the Japanese language release should be referred to as the original.
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Japan Retail Fund Investment Corporation issued this content on 2016-01-22 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-22 07:24:01 UTC
Original Document: http://www.jrf-reit.com/upd/ir_news/pdf/1601221630321520.pdf
