Nippon Accommodations Fund Secures 2 Billion Yen in New Loans
MT Newswires Live
Sep 29
Nippon Accommodations Fund (TYO:3226) will borrow a total of 2 billion yen from Rakuten Bank to fund the purchase and related incidental expenses of a new property, according to a Tokyo bourse filing on Tuesday.
The loans carry variable interest rates based on the JBA 1-month Japanese Yen TIBOR plus 0.225% for the first loan, which matures on Sept. 28, 2035, and 0.25% for the second loan with a maturity date of Sept. 30, 2036.
Following this borrowing, the REIT's total interest-bearing debt will increase from 174.7 billion yen to 176.7 billion yen, while the interest-bearing debt ratio will rise slightly from 54.6% to 54.9%.
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