Mori Trust REIT (TYO:8961) has agreed to borrow 1 billion yen from Resona Bank to repay existing long-term loans of a similar amount, according to a Tokyo bourse filing on Monday.
The new short-term loan carries an interest rate of JBA Japanese Yen TIBOR plus 0.15%, with a drawdown date of April 22, and full repayment due on May 29.
The existing loan being refinanced was originally drawn on April 22, 2021, and matures on the same date as the new borrowing's drawdown.
The borrowing is structured as unsecured and unguaranteed, with lump-sum repayment upon maturity.
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