Comforia Residential REIT (TYO: 3282) has secured a 1.50 billion yen loan from The Fukui Bank to refinance maturing debt, according to a Friday filing with the Tokyo Stock Exchange.
The new borrowing carries a floating interest rate pegged to the JBA one-month yen TIBOR plus 0.250%, with drawdown scheduled for Oct. 30.
The loan carries a seven-year maturity with principal repayment scheduled for Oct. 30, 2033.
Proceeds from the financing, supplemented by cash reserves, will be used to prepay a maturing 1.70 billion yen loan from a syndicate comprising Mizuho Bank, Sumitomo Mitsui Trust Bank, and MUFG Bank.
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