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FINWIRES

GLP J-REIT Secures 26 Billion Yen Refinancing

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GLP J-REIT (TYO:3281) secured syndicated loans totalling 26.2 billion yen to refinance six existing borrowings due on June 30, according to a Tokyo bourse filing on Thursday.

The refinancing comprises an 11.46 billion yen facility with a three-year term maturing in 2029 at a base rate plus 0.175%, and a 14.74 billion yen facility with a six-year term maturing in 2032 at a base rate plus 0.205%.

The transaction keeps the REIT's total loans and bonds unchanged at 396.6 billion yen while reducing short-term debt by 28.4 billion yen through a shift to long-term borrowings.

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