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(Note 1)
June 23, 2021
For immediate release
Advance Residence Investment Corporation
Securities Code:3269
1-105Kanda-Jinbocho, Chiyoda-ku, Tokyo
Wataru Higuchi, Executive Director
Asset management company:
AD Investment Management Co., Ltd.
Takeshi Takano, President
Surveys:
Isao Kudo, director
PHONE. + 81-3-3518-0480
Notice Regarding Debt Financing Interest Rate and Signing an Interest Rate Swap Agreement
Advance Residence Investment Corporation (ADR) announced that on the 1,919 million yen long-term loan to be drawn on June 25, 2021, the interest rates for the 1,000 million yen 8-year fixed rate tranche of the loan were fixed as follows.
In addition, ADR announced that an interest rate swap agreement had been entered into to hedge against the risk of fluctuating interest rates for the 10-year floating rate 919 million yen tranche of the loan, as detailed below.
Note 1 Please refer to the “Debt Financing and Loan Repayment Notice” dated June 16, 2021 for more details.
1. Debt financing (draw date: June 25, 2021)
- Debt Financing Details
|
(JPY: millions) |
||||||||||||||
|
Planned |
Program |
Main |
Refund |
Main |
Collateral/ |
|||||||||
|
Lender |
Draw down |
Interest rate |
Refund |
|||||||||||
|
Dated |
Amount |
Dated |
Period |
Refund |
Guarantee |
|||||||||
|
June |
0.27750% |
June |
Pay in full |
Insecure |
||||||||||
|
Aozora Bank, Ltd. |
1000 |
8.0 years |
on the |
|||||||||||
|
25, 2021 |
25, 2029 |
Not guaranteed |
||||||||||||
|
due date |
||||||||||||||
1
[Provisional Translation]
The English translation of the original Japanese document is provided for informational purposes only. In the event of any discrepancies between this translation and the Japanese original, the latter shall prevail.
2. Details of the interest rate swap agreement
- Ready to cover: Long-term loans (919 million yen, 10 years)
- Date of the interest rate swap contract: June 23, 2021
|
Notional |
Contract |
Contract |
Refund |
Interest rate |
||
|
Counterparty |
main |
|||||
|
start date |
end date |
period |
||||
|
(mm yen) |
Pay |
To receive |
||||
|
(Fixed rate) |
(floating rate) |
|||||
|
Mizuho Bank, Ltd. |
919 |
June |
June |
10.0 years |
0.09070% |
3 months of yen |
|
25, 2021 |
25, 2031 |
(Note 2) |
TIBOR(Note 2) |
Note 2 The interest payment dates are the last business day of each month of January, April, July, October from July 30, 2021 and ending on the principal repayment date.
The interest rate for the above loan should be basically set at 0.29070% by entering into the interest rate swap agreement.
About Advance Residence Investment Corporation
Advance Residence Investment Corporation is the largest residential J-REIT, investing in over 270 rental apartments located primarily in central Tokyo and other major cities in Japan (AUM over 450 billion yen). ADR can be expected to have a stable long-term dividend and can be seen as a defensive J-REIT, thanks to the stable income from residential assets and with the largest reserve of dividends among J-REITs.
ADR website: https://www.adr-reit.com/fr/
2
[Provisional Translation]
The English translation of the original Japanese document is provided for informational purposes only. In the event of any discrepancies between this translation and the Japanese original, the latter shall prevail.
Warning
Advance Residence Investment Corporation published this content on June 23, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 23 Jun 2021 06:32:01 AM UTC.
