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|
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