Mitsui Fudosan Accommodations Fund (TYO:3226) has secured a 1-billion-yen unsecured, bullet-repayment loan from The Yamanashi Chuo Bank, to repay a maturing debt of the same amount.
The new loan, which carries a floating rate of TIBOR plus 0.175% and a seven-year maturity, will fully repay an existing 1 billion yen borrowing from the same lender, according to a Tokyo bourse filing on Friday.
Additionally, the fund plans to settle a separate 2 billion yen long-term loan from Nippon Life Insurance on June 30, bringing total long-term debt down by 2 billion yen to 166.2 billion yen.
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