Translation of Japanese Original
August 27, 2020
To All Concerned Parties
REIT Issuer:
Kenedix Residential Next Investment Corporation
Representative: Keisuke Sato, Executive Director
(Securities Code: 3278)
Asset Management Company:
Kenedix Real Estate Fund Management, Inc.
Representative: Masahiko Tajima, President & CEO
Contact:Shin Yamamoto, Head of Planning
Division, Residential REIT Department
TEL:+81-3-5157-6011
Notice Concerning Execution of Interest Rate Swap Agreements
Kenedix Residential Next Investment Corporation (the "Investment Corporation") announced today the decision regarding the execution of interest-rate swap agreements. The details are as follows.
1. Interest Rate Swap Agreements
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Reason for Executing the Interest Rate Swap Agreements
For a hedge against possible increases in future interest rate for series 45①② with floating interest rate. For further details concerning the abovementioned debt financing, please refer to the press release "Notice Concerning Debt Financing and the Execution of Interest Rate Swap Agreements" announced on August 25, 2020. - Details of the Interest Rate Swap Agreements
Series 45① | Series 45② | |||||
Counterparty | Nomura Securities Co.,Ltd. | |||||
Notional Amount | ¥ 500 million | ¥ 300 million | ||||
Fixed interest | 0.14000% | |||||
Interest | Rate for payment | |||||
Rate | Floating interest | Base rate (JPY TIBOR for 3 month) | ||||
Rate for receipt | ||||||
Commencement Date | August 31, 2020 | |||||
Termination Date | August 31, 2028 | |||||
The first payment is due at the end of November 2020, and on the last day of every three months thereafter, | ||||||
Payment Date | with the last payment on the principal repayment day. | |||||
(If each payment day is a non-business day, then the payment will be due on the next business day and if the | ||||||
next business day is in the next month, then the previous business day will be applied.) |
(Note) By entering into the interest rate swap agreements, the interest rate for series 45① is essentially fixed at 0.64000% and series 45② is essentially fixed at 0.69000%
2. Others
In relation to the risks associated with the borrowings, there have been no significant changes to the "Investment Risks" stated in the securities report (Yuka shoken hokokusyo) submitted on April 28, 2020.
- Website URL of the Investment Corporation:https://www.kdr-reit.com/en/
[Provisional Translation Only]
English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
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Kenedix Residential Next Investment Corporation published this content on 27 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2020 06:31:07 UTC