July 29, 2022
For Immediate Release
Real Estate Investment Trust Securities Issuer:
Mitsui Fudosan Logistics Park Inc.
(Securities Code: 3471)
6-8-7 Ginza, Chuo-ku, Tokyo 104-0061
Representative: Hiroshi Asai, Executive Director
Asset Management Company:
Mitsui Fudosan Logistics REIT Management Co., Ltd.
Representative: Yukio Yoshida, President and Chief
Executive Officer
Inquiries: Tatsu Makino, Managing Director and Chief
Financial Officer
Tel. +81-3-6327-5160
Notice Concerning Borrowing of Funds (including Green Loans) and Repayment of Borrowing
Mitsui Fudosan Logistics Park Inc. ("MFLP-REIT") today resolved on a debt financing (the "Borrowing") and a repayment of borrowing (the "Repayment") hereby announces as follows:
Of the borrowing, long-term borrowing are Green Loans that will be executed based on the Sustainablity Finance Framework established by MFLP-REIT (the "Green Loans").
The Green Loans are the first green loans financing conducted by MFLP-REIT.MFLP-REIT aims to promote the asset management with consideration to ESG and strengthen the funding base through sustainability finance, including green loans.
I. Borrowing
1. Details of Borrowing A. Long-term borowing
Amount | Interest rate(*1) | Borrowing | Repayment | Repayment method, | |
Lender | (million | ||||
date | date | Collateral etc. | |||
yen) | |||||
Mizuho Bank, Ltd. | 400 | 0.7488% | August 2, | Augsut 2, | Bullet repayment, |
Unsecured and non- | |||||
(Green Loan) | 2022 | 2032 | |||
guaranteed | |||||
The Norinchukin Bank | TBD(*2) | August 4, | August 3, | Bullet repayment, | |
500 | Unsecured and non- | ||||
(Green Loan) | (fixed interest rate) | 2022 | 2029 | ||
guaranteed | |||||
Nippon Life Insurance | TBD(*2) | August 4, | August 4, | Bullet repayment, | |
Company | 500 | Unsecured and non- | |||
(fixed interest rate) | 2022 | 2031 | |||
(Green Loan) | guaranteed | ||||
Total of borrowing | 1,400 | - | - | - | - |
(Note 1) Interest rate is fixed until the repayment date. The first interest payment date is the last day of January 2023, and thereafter the interest payment date will be the last day of January and July until and including the repayment date. (If each interest payment date is not a
1
business day, such interest payment date shall be on the next business day. Provided, however, that such interest payment date shall be on the preceding business day if such next business day falls into the next month.)
(note 2) Interest rates will be announced when determined.
B. Short-term borowing
Amount | Interest rate(*) | Borrowing | Repayment | Repayment method, | |
Lender | (million | ||||
date | date | Collateral etc. | |||
yen) | |||||
Sumitomo Mitsui Trust | 1,300 | Base rate +0.05% | August 4, | Augsut 19, | Bullet repayment, |
Unsecured and non- | |||||
Bank, Limited | 2022 | 2022 | |||
guaranteed | |||||
The Bank of Fukuoka, | Base rate +0.05% | August 4, | August 19, | Bullet repayment, | |
1,300 | Unsecured and non- | ||||
Ltd. | 2022 | 2022 | |||
guaranteed | |||||
Total of borrowing | 2,600 | - | - | - | - |
(Note) The interest payment date is the repayment date. The base interest rate is calculated by linear interpolation of the JBA one-week Japanese Yen TIBOR and one-month Japanese Yen TIBOR published by JBA TIBOR Administration two business days prior to the borrowing date.
The JBA Japanese yen TIBOR can be found on the website of the JBA TIBOR Administration (https://www.jbatibor.or.jp/english/rate/).
-
Reason for Borrowing
Funds are to be allocated to the repayment of borrowings as detailed in "II. Repayment" below. - Amount, specific use of proceeds and expected date of expenditure of funds to be procured
(1) Amount of funds to be procured
¥4,000 million
(2) Specific use of proceeds of funds to be procured
Funds are to be allocated to the repayment of borrowings as detailed in "II. Repayment" below.
MFLP-REIT plans to use all the Green Loans as funds for the repayment for the loans that were required for acquisition of Eligible Green Assets under the Sustainablity Finance Framework.
Specifically, long-term borrowing ¥400 million from Mizuho Bank, Ltd. is used to repay long-term borrowing procured as part of the acquisition funds of 7 properties(*), including MFLP Kuki, which was acquired on August 2, 2016. And totaling long-term borrowing ¥1,000 million from The Norinchukin Bank and Nippon Life Insurance Company is used to repay long-term borrowing procured as part of the acquisition funds for MFLP Komaki, which was acquired on August 4, 2017.
(note) MFLP Kuki, MFLP Yokohama Daikoku, MFLP Yashio, MFLP Atsugi, MFLP Funabashi Nishiura, MFLP Kashiwa, MFLP Sakai
- Expected date of expenditure Augsut 2, 2022 and August 4, 2022
2
II. Repayment
Lender | Amount | Borrowing date | Repayment date | ||||
(million yen) | |||||||
Mizuho Bank, Ltd. | 400 | Augsut 2, 2016 | Augsut 2, 2022 | ||||
The Norinchukin Bank | 500 | August 4, 2017 | Augsut 4, 2022 | ||||
Nippon Life Insurance | 500 | August 4, 2017 | Augsut 4, 2022 | ||||
Company | |||||||
Sumitomo Mitsui Banking | 1,300 | July 4, 2022 | Augsut 4, 2022 | ||||
Corporation | |||||||
The Bank of Fukuoka, | 1,300 | July 4, 2022 | Augsut 4, 2022 | ||||
Ltd. | |||||||
III.Status of the borrowings after execution of Borrowing | (Unit: millions of yen) | ||||||
Prior to execution | After execution | Change | |||||
Short-term borrowing(*) | 5,200 | 5,200 | 0 | ||||
Long-term borrowing(*) | 115,700 | 115,700 | 0 | ||||
Total borrowing | 120,900 | 120,900 | 0 | ||||
Investment corporation bonds | 3,000 | 3,000 | 0 | ||||
Total of borrowing and | 123,900 | 123,900 | 0 | ||||
investment corporation bonds |
(Note) "Short-term borrowing" refers to borrowing with a maturity of one year or less from the borrowing date. "Long-term borrowing" refers to borrowing with a maturity of more than one year from the borrowing date.
Ⅳ. Other
Concerning the risks of the Borrowing and the Repayment, there are no material changes in the details of risks as described in "Part I Fund Information / 1. Overview of Fund / 3. Investment Risks" of the Securities Report submitted on April 26, 2022.
We did not publish an English version of the Securities Report.
End
*MFLP-REIT's corporate website: https://www.mflp-r.co.jp/en/
3
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Mitsui Fudosan Logistics Park Inc. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 06:44:07 UTC.