Ichigo Office Announced Fixed Interest Rate For New Loan
May 28, 2020 — Ichigo Office announced that it has fixed the interest rates for the first payment date of the two loans announced in the May 25, 2020 release as “New Loans.” Ichigo Office also executed an interest rate swap to lock in the interest rate on the JPY 2,000 million loan.
- Interest Rates
|No.||Loan Date||Lender||Loan Amount (JPY million)||Interest Rate for First Payment||Repayment Date||Repayment Terms||Collateralized|
|1||May 29, 2020||SMBC Mizuho Bank Shinsei Bank MUFG Bank||3,047||0.46319%1||Sep 25, 2023 (3.3 years)||Lump-sum repayment||No|
|2||May 29, 2020||SMBC Mizuho Bank Shinsei Bank MUFG Bank||2,000||0.67319%1||Mar 25, 2027 (6.8 years)||Lump-sum repayment||No|
1 The term for the first interest payment date is May 29, 2020 through July 27, 2020.
2. Swap Details
|Counterparty||Notional (JPY million)||Contract Date||Termination Date||Fixed Interest Rate (Pay)||Floating Interest Rate (Receive)|
|Mizuho Bank||2,000||May 29, 2020||Mar 25, 2027 (6.8 years)||0.74%||3M JPY TIBOR +0.62% (p.a.)|
3. Earnings Outlook
The impact of the loans on Ichigo Office’s October 2020 fiscal period earnings has been reflected in the forecast presented in Ichigo Office’s December 13, 2019 release “October 2019 Fiscal Period Earnings.”
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