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FINWIRES

Advance Residence Investment 3 Billion Yen Debt Refinancing to Repay Maturing Loans

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Advance Residence Investment (TYO:3269) will undertake two equal debt financings totalling 3 billion yen on July 29 and July 31, to fully repay existing loans from the same lenders that mature on those dates.

A total of 1.5 billion yen, provided by The Yamaguchi Bank, and The Bank of Fukuoka, have maturities ranging from 4.5 to 10 years and variable interest rates based on TIBOR.

The remainder of 1.5 billion yen will be disbursed by Mizuho Bank, and SBI Shinsei Bank, with maturities ranging from 7.2 to 9 years.

The refinancing will not change the REITS' total interest-bearing debt, which remains at 252.4 billion yen, nor its mix of short-term and long-term loans.

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