Japan Excellent Secures 5 Billion Yen Loan to Fund Akasaka Intercity Air Acquisition
MT Newswires Live
Mar 16
Japan Excellent (TYO:8987) has secured a new 5 billion yen loan through an uncommitted revolving credit facility agreement with Mizuho Bank, according to a Tokyo bourse filing on Monday.
The REIT said the one-year floating-rate loan, priced at the one-month Yen-TIBOR plus 0.200%, will be drawn on March 19, 2026, and repaid in full on March 19, 2027.
Proceeds from the borrowing will be used to partially fund the acquisition of an additional interest in the Akasaka Intercity Air property.
Following this drawdown, the company's total interest-bearing debt will increase to 136.1 billion yen, up from 131.1 billion yen before the financing.
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