Nippon Prologis REIT Announces Debt Financing, Completion of Interest Rate Swap Agreement and Prepayment of Bank Loans
December 09, 2021 at 11:30 am IST
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Nippon Prologis REIT, Inc. ("NPR") announced that it will obtain debt financing (the "Borrowing") and has executed an interest rate swap agreement for the Borrowing and will make a prepayment of bank loans. Borrowing Details: Category: Long-term Borrowing (i); Long-term Borrowing (ii): Syndicate of lenders arranged by Sumitomo Mitsui Banking Corporation and MUFG Bank Ltd. (Note 1); Syndicate of lenders arranged by Sumitomo Mitsui Banking Corporation and MUFG Bank Ltd. (Note 2): Borrowing Amount: JPY 7.0 Billion; JPY 7.0 Billion: Interest Rate: Base interest rate (JBA 3-month Japanese yen TIBOR) +0.195% (Note 6); Base interest rat (JBA 3-month Japanese yen TIBOR) +0.300% (Note 6): Repayment Date: December 13, 2027; December 12, 2031: Repayment Method: Paid in full upon maturity: Collateral: Unsecured and non-guaranteed, respectively.
Nippon Prologis REIT Inc. is a Japan-based real estate investment trust (REIT). It aims to achieve sustainable growth in asset and stable earnings from mid- to long-term perspectives. The REIT mainly invests in logistic facilities, focusing on A class logistic facilities. Its portfolio included Prologis Park Ichikawa 1, Prologis Park Zama 1 , Prologis Park Kawajima , Prologis Park Osaka 2, Prologis Park Maishima 3 , Prologis Park Kasugai, Prologis Park Maishima 4, Prologis Park Kitanagoya, Prologis Park Tagajo and Prologis Park Takatsuki, among others. The asset manager of the REIT is Prologis REIT Management K.K.