By
To All Concerned Parties
English Translation
The following is an English translation of the original Japanese press release and is being provided for informational purposes only.
January 8, 2013
REIT Issuer: Japan Rental Housing Investments Inc.
6-16-12 Shinbashi
Minato-ku, Tokyo 105-0004
Toshiya Kuroda, Executive Director
(Securities Code: 8986) Asset Manager: Mi-Casa Asset Management Inc.
Yutaka Higashino, President and Chief Executive Officer
Inquiries: Tetsu Kasuga, Chief Financial Officer
Tel: +81-3-5425-5600
Japan Rental Housing Investments Inc. (the "Investment Corporation") announces that the Investment Corporation concluded an interest-rate swap agreement. Details are provided as follows.
I. Purpose of the Interest-Rate Swap Agreement
The Investment Corporation has decided to conclude an interest-rate swap agreement as a hedge against possible increase of the interest rates in future. This interest-rate swap agreement is not for the specific borrowing, is for the amount of 5billion yen out of the entire borrowing.
II. Summary of the Interest-Rate Swap Agreement
Counterparty: | The Bank of Tokyo-Mitsubishi UFJ, Ltd. |
Notional Amount: | 5billion yen |
Interest Rate: | Pay a fixed interest rate: 0.3475% |
Receive a floating interest rate: Base rate (JPY TIBOR for 1-month of JBA) | |
Commencement Date: | January 22, 2013 |
Termination Date: | January 22, 2018 |
Payment Date: | First interest payment on February 22, 2013, and at 22nd of every month (on the next business date, if 22nd is a non-business day) |
Note: Based on this interest-rate swap agreement, basically, the base rate for the amount of 5billion yen out of the entire borrowing is fixed at 0.3475%.
Note: The base rate shall be calculated based on JPY TIBOR for 1-month which Japanese Bankers Association (JBA)
releases two business days prior to each payment date. JPY TIBOR appears on website of JBA (ht tp://www.zenginkyo.or.jp/ en/tibor/).
*URL: http://www.jrhi.co.jp/en/
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