SANKEI REAL ESTATE : Notice Concerning Early Repayment of Borrowings
June 10, 2022 at 11:42 am IST
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June 10, 2022
For Immediate Release
Real Estate Investment Trust Securities Issuer
1-7-2 Otemachi, Chiyoda-ku, Tokyo
SANKEI REAL ESTATE Inc.
Representative: Yuichi Ota, Executive Director
(TSE code: 2972)
Asset Management Company
Sankei Building Asset Management Co., Ltd.
Representative:
Yuichi Ota
President and Chief Executive Officer
Contact:
Atsushi Mukai
Director and Chief Finance & IR Officer
TEL: +81-3-5542-1316
Notice Concerning Early Repayment of Borrowings
SANKEI REAL ESTATE Inc. ("SANKEI REAL ESTATE") announces today that it decided to conduct early repayment of borrowings (the "Early Repayment"), as follows.
1. Early Repayment
Details of borrowings to be repaid
i. Lender:
Mizuho Bank, Ltd.
Sumitomo Mitsui Banking Corporation
ii. Borrowing amount:
400 million yen
iii.
Interest rate:
Base interest rate (JBA 1-month Japanese Yen TIBOR) + 0.150%
iv.
Borrowing date:
September 2, 2021
v.
Borrowing method:
Borrowing based on individual loan agreement dated August 31, 2021 with
the lenders shown above
vi.
Maturity date:
August 31, 2022
vii.
Repayment method:
Lump-sum repayment at maturity
viii.
Security:
Unsecured and non-guaranteed
Amount to be repaid in the Early Repayment (principal amount) 400 milion yen
Scheduled date of the Early Repayment July 4, 2022
Funds for repayment
Consumption tax refund for the property acquired by SANKEI REAL ESTATE on September 2, 2021 is to be allocated to the Early Repayment.
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2. Status of borrowings, etc. after the Early Repayment
(Unit: million yen)
Before the Early
After the Early
Increase
Repayment
Repayment
(Decrease)
Short-term borrowings (Note)
400
－
(400)
Long-term borrowings (Note)
50,200
50,200
－
Repayment due within one year
9,600
9,600
－
Total borrowings
50,600
50,200
(400)
Investment corporation bonds
－
－
－
Total borrowings and investment corporation bonds
50,600
50,200
(400)
(Note) "Short-term borrowings" refers to borrowings for which the period from the borrowing date to the maturity date is one year or less. "Long-term borrowings" refers to borrowings for which the period from the borrowing date to the maturity date is longer than one year.
3. Other
Concerning the risks associated with the Early Repayment, there is no significant change from the content of "Part 1. Fund Information; Section 1. Status of Fund; (3) Investment Risks" in the annual securities report submitted on May 30, 2022.
* SANKEI REAL ESTATE Inc. website: https://www.s-reit.co.jp/en/
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Disclaimer
Sankei Real Estate 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 06:11:09 UTC.
SANKEI REAL ESTATE Inc is a closed-end real estate investment trust (REIT) company. It aims to achieve sustainable growth in asset and stable earnings from mid- to long-term perspectives. It invests in office buildings as a major investment objective and invests in the office building to the asset size of the portfolio at around 80%. The Fund expands the scale of the assets under management by practicing a growth strategy that makes use of the platform made up of the group companies of the Sankei Building Group. The asset manager of the Fund is K.K. Sankei Building Asset Management.
SANKEI REAL ESTATE INC. 