ORIX JREIT Announces New Debt Financing

May 13, 2020 — ORIX JREIT Inc. (OJR) announced that its asset management company, ORIX Asset Management Corporation, determined the prepayment of short-term loan and new debt financing to enhance financial stability in view of COVID-19 impact.

The total amount of debt financing is at JPY 6.8 billion with an applicable interest rate of a base rate based on JBA 1-month JPY TIBOR + 0.15%.

New deby financing summary

 a. LenderSumitomo Mitsui Trust Bank, Limited
 b. Loan amountJPY 6,800,000,000
  c. Applicable interest rate(Note 2,3)Base rate based on JBA 1-month JPY TIBOR + 0.15%
d. Drawdown dateMay 20, 2020
e. Method of borrowingBased on the term loan agreement dated May 18, 2020
f. Maturity dateMay 22, 2023
g. Principal paymentBullet payment on the maturity date
h. Collateral / GuaranteeUn-secured / Non-guaranteed
i. Purpose for new debt financingTo allocate to repay the short-term loan of JPY3,900 million due on August 4, 2020 and the short-term loan of JPY2,900 million due on March 18, 2021

For more details, click here

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