English translation
The following is an English translation of the original Japanese press release and is provided for informational purposes only.
June 23, 2022
To all parties concerned
REIT Issuer: Daiwa Securities Living Investment Corporation
6-2-1 Ginza, Chuo-ku, Tokyo 104-0061
Yoshio Urata, General Manager
(Value code: 8986)
Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.
Yoshiki Nishigaki, President and CEO
For further information: Kentaro Azumi, General Manager, Corporate Division
Tel: +81-3-6757-9680
Notice regarding debt refinancing
Daiwa Securities Living Investment Corporation (hereinafter referred to as the “Investment Company”) decided today to refinance the loans in the total amount of 1,500 million yen, which are due to be repaid on June 30, 2022 (hereafter hereafter referred to as the “Refinancing”).
I. Refinancing
1. Borrowing funds
- Reason for borrowing
The Investment Company has decided to contract new borrowings for the purpose of refinancing existing borrowings in the aggregate amount of 1,500 million yen, which are due to be repaid on June 30, 2022. For details of the borrowings, please refer to the press release “Notice Regarding Borrowing of Funds” on December 19, 2014.
(2) Summary of Borrowings
The Investment Company has decided to borrow a total of 1,500 million yen from financial institutions with outstanding transactions.
|
Number of |
Sampling |
|||||||||||||||
|
Lenders |
loan |
Interest rate |
Method |
Due date |
||||||||||||
|
Date |
||||||||||||||||
|
(million JPY) |
||||||||||||||||
|
MUFG Bank, Ltd. |
3 month JBA |
June 30th, |
Insecure, |
September 28, |
||||||||||||
|
1,500 |
japanese yen |
Lump sum |
||||||||||||||
|
Resona Bank, Limited |
TIBOR+0.4950% |
2022 |
refund on |
2029 |
||||||||||||
|
(To note) |
the due date |
(Note) The Interest Payment Date is the last day of March, June, September and December of each year after September 30, 2022 (if the relevant day is not a business day, the next business day, and if the next business day falls within the next month, the immediately preceding business day). The base interest rate applied to the interest calculation period paid on the Interest Payment Date is calculated on the basis of the 3-month JBA TIBOR published two business days before the start of the interest calculation period.
Please check the JBA TIBOR administration website (http://www.jbatibor.or.jp/english/rate/) for information on the JBA Yen TIBOR.
2. The date of this agreement June 23, 2022
English translation
The following is an English translation of the original Japanese press release and is provided for informational purposes only.
- balance statement and Interest-bearing debt ratio before and after the refinancing.
|
(Unit: JPY million) |
|||||||||
|
Before the |
After the |
||||||||
|
Refinancing |
Refinancing |
To change |
|||||||
|
（June 29, 2022） |
|||||||||
|
（June 30, 2022) |
|||||||||
|
Short-term loans (Note 1) |
0 |
0 |
0 |
||||||
|
Long-term borrowings (Note 1) |
159,587 |
159,587 |
0 |
||||||
|
(Long-term borrowings less than one year) (Note 2) |
26,900 |
25,400 |
-1,500 |
||||||
|
Total borrowings |
159,587 |
159,587 |
0 |
||||||
|
Investment company bonds |
22,100 |
22,100 |
0 |
||||||
|
Total interest-bearing debt |
181,687 |
181,687 |
0 |
(Note 1) Borrowing periods for short-term borrowings are less than one year and long-term borrowings are greater than one year.
(Note 2) Long-term borrowings within one year represent borrowings within one year of the respective dates indicated above.
Ⅲ. Forecasts
The impact of the Refinancing on the asset management conditions is minimal for the tax periods ending September 30, 2022 (April 1, 2022 to September 30, 2022) and the tax period ending March 31, 2023 (October 1, 2022 to September 31, 2022). March 2023).
Ⅳ. Other
Regarding refinancing risks, there is no material change in the “investment risks” indicated in the securities report for the 32nd financial year (submitted on June 21, 2022).
*URL: https://www.daiwa-securities-living.co.jp/en/
