MORI TRUST Sogo Reit : Notice Concerning Issuance of Investment Corporation Bonds
June 10, 2022 at 08:42 am IST
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June 10, 2022
Press Release
Issuer of Real Estate Investment Trust Securities
MORI TRUST Sogo Reit, Inc.
4-3-1 Toranomon, Minato-ku, Tokyo
Masayuki Yagi,
Executive Director (TSE code 8961)
Asset Management Company:
MORI TRUST Asset Management Co., Ltd. Michio Yamamoto
President and Representative Director Contact:
Hiroshi Naito
General Manager, Strategic Management Department,
Sogo REIT Management Division
Phone: +81-3-6435-7011
Notice Concerning Issuance of Investment Corporation Bonds
Tokyo, June 10, 2022 - Mori Trust Sogo Reit, Inc. (MTR) announced today its decision to issue a total of 2 billion yen in investment corporation bonds.
1. Outline of the investment corporation bonds
(1)
Name of bonds:
MORI TRUST Sogo Reit, Inc. Eighteenth Series Unsecured
Investment Corporation Bonds (Ranking Pari Passu among the
specified Investment Corporation Bonds)
(2)
Issue amount:
2 billion yen
(3)
Bond certificate:
The Bonds Transfer Act is applicable to the bonds, thus investment
corporation bond certificates will not be issued.
(4)
Issuance price:
100 yen per 100 yen face value
(5)
Redemption price:
100 yen per 100 yen face value
(6)
Interest rate:
0.420% per annum
(7)
Amount per offering:
100 million yen
(8)
Offering method:
Public placement
(9)
Date of offering:
June 10, 2022 (Friday)
(10)
Date of payment:
June 20, 2022 (Monday)
(11)
Collateral:
There is no secured mortgage or guarantee on the bonds. There are no
assets reserved as security for the bonds.
(12)
Redemption method and date:
The total amount to be redeemed on February 29, 2028
The corporation bonds may be repurchased and cancelled at any time
after the date of payment unless otherwise specified by the transfer
agent.
(13)
Interest payment date:
The end of February and August of each year
(14)
Covenants:
Negative pledge
(15)
Ratings:
AA (Japan Credit Rating Agency, Ltd.)
(16)
Fiscal agent /Issuing and
Mizuho Bank, Ltd.
payment agent:
(17)
Underwriters:
Mizuho Securities Co., Ltd.
Disclaimer:
This English language document is provided as a service and is not intended to be an official statement. Should a discrepancy be found, the Japanese original will always govern the meaning and interpretation.
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2. Reason for bond issuance
To increase cash on hand and secure funds needed for the redemption of investment corporation bonds or for the repayment of existing loans.
3. Amount, timing, and use of the bond sale proceeds
Net amount of proceeds: approximately 1,984 million yen
Timing and use:
1,000 million yen of the proceeds from the bond issuance will be used as cash on hand that has
decreased due to the redemption of eleventh series unsecured investment corporation bonds on February 22, 2022. The balance will be used as a source of funds for the redemption of twelfth series unsecured investment corporation bonds (4,000 million yen) coming due on February 22, 2023, or for the repayment of existing loans, which reach maturity by the end of March 2023.
4. Status of loans and bonds after the bond issuance
(Million yen)
Before
After
Increase/Decrease
Short-term loans
6,000
6,000
-
Long-term loans
135,000
135,000
-
Investment Corporation Bonds
13,000
15,000
+2,000
Total
154,000
156,000
+2,000
Disclaimer:
This English language document is provided as a service and is not intended to be an official statement. Should a discrepancy be found, the Japanese original will always govern the meaning and interpretation.
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MORI TRUST Sogo Reit Inc. published this content on 10 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2022 03:11:07 UTC.
Mori Trust Reit Inc is a Japan-based real estate investment trust (REIT) mainly engaged in the investment in real estate and asset-backed securities that mainly invest in real estate among specified assets. The Fund aims to achieve sustainable growth and stable earnings, and provides stable management of assets over the medium to long term. The Fund invests in office buildings, commercial facilities, housings and hotels mainly in Tokyo, Chiba, Saitama and Kanagawa prefectures. The main properties includes Tokyo Shiodome Building, ON Building, Kioicho Building, Shimbashi Ekimae MTR Building, Osaki MT Building, Shibuya Flag and others buildings. MORI TRUST Asset Management Co., Ltd. is the asset manager of the Fund.