Nippon Building Fund (TYO:8951) has agreed to borrow a total of 6 billion yen in short-term funds to partially fund the cash distribution for the 50th period, according to a Tokyo bourse filing on Monday.
The new loans include a 4 billion yen facility from Sumitomo Mitsui Trust Bank and another 2 billion yen from Resona Bank, both at an interest rate of 1.316% and repayable in lump sums on Oct. 9.
Following this financing, total borrowings and bonds will increase to 635 billion yen, while short-term borrowings rise from zero to 6 billion yen, with long-term debt and bonds unchanged.
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