Nippon Prologis REIT (TYO:3283) secured 2 billion yen in long-term debt from Resona Bank and fixed the interest rate through a swap agreement with Mizuho Securities (TYO:8411), effective May 1, according to a Monday filing on the Tokyo Stock Exchange.
The unsecured and non-guaranteed loan, which carries an interest rate of one-month TIBOR plus 20 basis points, matures on Oct. 31, 2031.
Nippon Prologis REIT said the swap deal fixes the effective interest rate at 1.4035%.
Proceeds will refinance part of an 11 billion yen short-term loan due Dec. 2. After the transaction, Nippon Prologis' short-term borrowings will fall to 5 billion yen, while long-term debt will rise to 314.5 billion yen. Total debt remains unchanged at 319.5 billion yen.
Price (JPY): $236200.00, Change: $+1800, Percent Change: +0.77%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.