Japan Excellent Secures 3.5 Billion Yen Loan from Mizuho Bank

MT Newswires Live
Feb 20

Japan Excellent (TYO:8987) secured a 3.5 billion yen loan from Mizuho Bank to help fund the acquisition of Aqua Town Naya-bashi, according to a Friday filing on the Tokyo Stock Exchange.

The one-year floating-rate loan carries interest at JBA one-month Yen-TIBOR plus 0.2% and will be drawn down on Feb. 27, with repayment due on Feb. 26, 2027. The borrowing is unsecured and non-guaranteed.

Following the drawdown, total borrowings will rise to 93.1 billion yen from 89.6 billion yen, bringing total interest-bearing debt to 131.1 billion yen.

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