Sekisui House Reit (TYO:3309) has signed forward exchange contracts totaling $284.1 million to hedge currency risk for its planned acquisition of an additional stake in City Ridge, a US-based property, according to a Monday filing on the Tokyo Stock Exchange.
The contracts, signed with Sumitomo Mitsui Trust Bank (TYO:8316) on March 17, cover 95% of the acquisition value.
A $15 million contract at 148.10 yen per dollar will settle on May 1, while a $269.1 million contract at 147.82 yen per dollar will settle on June 6.
Price (JPY): $77400.00, Change: $+500, Percent Change: +0.65%