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.

  1. Interest Rates
No.Loan DateLenderLoan Amount (JPY million)Interest Rate for First PaymentRepayment DateRepayment TermsCollateralized
1May 29, 2020SMBC Mizuho Bank Shinsei Bank MUFG Bank3,0470.46319%1Sep 25, 2023 (3.3 years)Lump-sum repaymentNo
2May 29, 2020SMBC Mizuho Bank Shinsei Bank MUFG Bank2,0000.67319%1Mar 25, 2027 (6.8 years)Lump-sum repaymentNo

1 The term for the first interest payment date is May 29, 2020 through July 27, 2020.

2. Swap Details

CounterpartyNotional (JPY million)Contract DateTermination DateFixed Interest Rate (Pay)Floating Interest Rate (Receive)
Mizuho Bank2,000May 29, 2020Mar 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.”

Read more here

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