Nippon Building Fund (TYO:8951) will refinance 6 billion yen in short-term borrowings to repay debt maturing in April, according to a Monday filing on the Tokyo Stock Exchange.
The REIT will borrow 4 billion yen from Sumitomo Mitsui Trust Bank and 2 billion yen from Resona Bank, with both loans set for lump-sum repayment by May 29. The borrowing will carry an interest rate of about 0.981%.
The proceeds will be used entirely to refinance existing short-term borrowings due in April.
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