ORIX JREIT Secures 2 Billion Yen in New Loans to Prepay Existing Debts

MT Newswires Live10-13

ORIX JREIT (TYO:8954) has secured 2 billion yen in new debt financing from Shinkin Central Bank to prepay an existing loan.

The new borrowing carries a floating interest rate based on JBA 3-month JPY TIBOR plus 0.20%, with funds to be drawn on Oct. 20.

The loan matures on Sept. 20, 2032, and will be repaid in a single bullet payment, remaining unsecured and non-guaranteed.

Meanwhile, the REIT's prepayment covers 1 billion yen each of loans from Sumitomo Mitsui Trust Bank, and MUFG Bank, with prepayment dates set on Oct. 20.

The total prepayment amount is 2 billion yen out of the 8 billion yen originally borrowed from the two lenders.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment