Advance Residence Investment (TYO:3269) has secured four separate debt financings totaling 8.4 billion yen, including multiple green loans, with drawdowns scheduled between April 14 to April 30.
A 1.5 billion yen refinancing will replace maturing loans from Nippon Life and Yamaguchi Bank while another 2 billion yen green loan facility (April 18) from Mizuho Bank tied to a DBJ 5-star certified student housing property.
Further, a 2 billion yen bond refinancing (April 21) through regional banks to redeem 10-year corporate bonds while a 2.9 billion yen mixed facility (April 30) featuring green loans from Sumitomo Mitsui Trust Bank for a CASBEE A-ranked office tower.
All new financings maintain Reit's unsecured, non-guaranteed structure while extending debt maturities by 5-10 years, with interest rates ranging from base plus 0.155% to base plus 0.26%.
The proceeds will primarily refinance existing debt obligations maturing in 2025, including 2 billion yen in 10-year bonds issued in 2015 at 0.726% and various bank loans with rates between 0.18-0.996%.
Price (JPY): $144500.00, Change: $-200, Percent Change: -0.14%
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