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. Lender | Sumitomo Mitsui Trust Bank, Limited |
| b. Loan amount | JPY 6,800,000,000 |
| c. Applicable interest rate(Note 2,3) | Base rate based on JBA 1-month JPY TIBOR + 0.15% |
| d. Drawdown date | May 20, 2020 |
| e. Method of borrowing | Based on the term loan agreement dated May 18, 2020 |
| f. Maturity date | May 22, 2023 |
| g. Principal payment | Bullet payment on the maturity date |
| h. Collateral / Guarantee | Un-secured / Non-guaranteed |
| i. Purpose for new debt financing | To 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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