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Daiwa House REIT Investment Refinances 6 Billion Yen in Debt with New Borrowings

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Daiwa House REIT Investment (TYO:8984) has secured 6 billion yen in new borrowings to partly fund the repayment of 7 billion yen in long-term loans maturing Sept. 28 and Sept. 30.

The refinancing includes a 1-billion-yen loan from Development Bank of Japan, a 500 million yen sustainability loan from Mitsui Sumitomo Insurance and 4.5 billion yen from Sumitomo Mitsui Banking, Norinchukin Bank, Sumitomo Mitsui Trust Bank, MUFG Bank and Mizuho Bank, according to a Friday Tokyo bourse filing.

The new loans have maturities ranging from 3.5 to 4.5 years.

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