Japan Real Estate Investment (TYO:8952) has secured a 5 billion yen loan to redeem part of its maturing bonds.
The unsecured loan, with an interest rate of one-month TIBOR plus 0.040%, was arranged with Mizuho Bank and will be drawn on Dec. 12, according to its Tokyo bourse filing on Wednesday.
The loan will be used to redeem parts of the fourth and 13th unsecured investment corporation bonds that matured in September and October.
The loan is scheduled for lump-sum repayment on Dec. 14, 2026.
Following this financing, the REIT's total interest-bearing debt will increase by 5 billion yen to 478.2 billion yen.